Investogist
No Result
View All Result
Saturday, November 1, 2025
  • News
    • All
    • Africa
    • Nigeria
    • World
    Terrorists Threatens to Bomb National Assembly – Reps Panel

    Terrorists Threatens to Bomb National Assembly – Reps Panel

    Police Seal Nestoil HQ in Lagos as First Bank Seizes Assets Over $1B Debt Default

    Police Seal Nestoil HQ in Lagos as First Bank Seizes Assets Over $1B Debt Default

    Paul Biya wins the Eighth Term election. Extending his 43-Year Rule in Cameroon

    Paul Biya wins the Eighth Term election. Extending his 43-Year Rule in Cameroon

    Kanu says entering a defense is pointless, “no valid charges against me”

    Kanu says entering a defense is pointless, “no valid charges against me”

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    FIRS Collects ₦47.39 Trillion in Tax Revenue, Exceeds Target by 15%

    Nnamdi Kanu’s Trial Halts over inability to access Case File

    Nnamdi Kanu’s Trial Halts over inability to access Case File

    Nnamdi Kanu Lists Wike, Hope, Sanwo Olu and others as Witnesses in Terrorism Trial

    Nnamdi Kanu Fires Legal Team, Chooses to Defend Himself

    Nnamdi Kanu Lists Wike, Hope, Sanwo Olu and others as Witnesses in Terrorism Trial

    Nnamdi Kanu Lists Wike, Hope, Sanwo Olu and others as Witnesses in Terrorism Trial

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG Spends 35.26% of 2024 Budget on Debt Service, Records ₦13.51tr Fiscal Deficit

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    China Warns Against NATO Tariffs After Trump’s Suggestion to Target Chinese Imports

    Trump warns of trade cuts with China over soybeans

    The New Tax Acts and Tax ID – What You Need to Know

    Nigerians to enjoy benefits of new tax laws from January 2026 – Oyedele

    CBN Tightens Agent Banking Operations, Introduces Transaction Limits

    CBN Tightens Agent Banking Operations, Introduces Transaction Limits

    China Warns Against NATO Tariffs After Trump’s Suggestion to Target Chinese Imports

    China Warns Against NATO Tariffs After Trump’s Suggestion to Target Chinese Imports

    The New Tax Acts and Tax ID – What You Need to Know

    The New Tax Acts and Tax ID – What You Need to Know

    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Seplat Energy Plc to pay US$0.025 (N10.38) final dividend for 2021 financial year

    Seplat Energy Plc announces interim and special dividend for Q3 2025

    MTN Nigeria proposes N23bn Commercial Paper

    MTN Nigeria announces interim dividend of ₦5.00 for Q3 2025

    Nigeria Exchange Group Declares ₦1.00 Interim Dividend for Q3 2025

    Nigeria Exchange Group Declares ₦1.00 Interim Dividend for Q3 2025

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    Aradel Holdings Plc proposes ₦10.00 interim dividend per share to Shareholders

    Aradel Holdings Plc acquires stake in Chappal Energies Mauritius Limited

    Aradel Holdings Plc delivers strong 9M financial performances

    First HoldCo Plc Appoints New Group Company Secretary

    First Bank of Nigeria Limited redeems its $350 million Eurobond

    MeCure Revenue Jumps 99% to ₦60 billion, Profits Rise 186% in Nine Months

    MeCure Revenue Jumps 99% to ₦60 billion, Profits Rise 186% in Nine Months

    VFD Group Unveils Details of ₦50 Billion Rights Issue

    VFD Group’s Gross Earnings Rises 35% to N60.7 billion in nine months

    Nestlé SA launches new nutrition solutions for fertility and pregnancy

    Nestlé Nigeria Hits N72.5bn Profit in Nine Months as Revenue Jumps 33%

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Dangote Cement Profits Soar to ₦743bn on Price Increase

    Dangote Cement Profits Soar to ₦743bn on Price Increase

    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

    NGX Lifts Eight-Year Suspension on Aso Savings & Loans, Stock Price Soars

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Presco Plc Declares ₦10 Interim Dividend for Q3 2025

    VFD Group Unveils Details of ₦50 Billion Rights Issue

    VFD Group Unveils Details of ₦50 Billion Rights Issue

    Binance Announces $400 Million Recovery Initiative After Crypto Crash

    Binance Announces $400 Million Recovery Initiative After Crypto Crash

    Strategy Inc. Adds 196 Bitcoin for $22.1M, Pushing Holdings to $72B

    Strategy Inc. Adds 196 Bitcoin for $22.1M, Pushing Holdings to $72B

    FY 2020: FCMB Group Plc gross earnings, profit, assets see double-digit growth rates

    FCMB Group Lists 3.16bn Ordinary Shares on NGX Following Loan-to-Equity Conversion

    Bitcoin might be getting ready for $75,000

    MicroStrategy Buys 850 Bitcoin for $99.7 Million

    Falana sues Meta, demands $5m over invasion of privacy

    Meta Unveils Next-Gen Smart Glasses with Built-In AI and AR

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
Investogist
  • News
    • All
    • Africa
    • Nigeria
    • World
    Terrorists Threatens to Bomb National Assembly – Reps Panel

    Terrorists Threatens to Bomb National Assembly – Reps Panel

    Police Seal Nestoil HQ in Lagos as First Bank Seizes Assets Over $1B Debt Default

    Police Seal Nestoil HQ in Lagos as First Bank Seizes Assets Over $1B Debt Default

    Paul Biya wins the Eighth Term election. Extending his 43-Year Rule in Cameroon

    Paul Biya wins the Eighth Term election. Extending his 43-Year Rule in Cameroon

    Kanu says entering a defense is pointless, “no valid charges against me”

    Kanu says entering a defense is pointless, “no valid charges against me”

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    FIRS Collects ₦47.39 Trillion in Tax Revenue, Exceeds Target by 15%

    Nnamdi Kanu’s Trial Halts over inability to access Case File

    Nnamdi Kanu’s Trial Halts over inability to access Case File

    Nnamdi Kanu Lists Wike, Hope, Sanwo Olu and others as Witnesses in Terrorism Trial

    Nnamdi Kanu Fires Legal Team, Chooses to Defend Himself

    Nnamdi Kanu Lists Wike, Hope, Sanwo Olu and others as Witnesses in Terrorism Trial

    Nnamdi Kanu Lists Wike, Hope, Sanwo Olu and others as Witnesses in Terrorism Trial

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG Spends 35.26% of 2024 Budget on Debt Service, Records ₦13.51tr Fiscal Deficit

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    China Warns Against NATO Tariffs After Trump’s Suggestion to Target Chinese Imports

    Trump warns of trade cuts with China over soybeans

    The New Tax Acts and Tax ID – What You Need to Know

    Nigerians to enjoy benefits of new tax laws from January 2026 – Oyedele

    CBN Tightens Agent Banking Operations, Introduces Transaction Limits

    CBN Tightens Agent Banking Operations, Introduces Transaction Limits

    China Warns Against NATO Tariffs After Trump’s Suggestion to Target Chinese Imports

    China Warns Against NATO Tariffs After Trump’s Suggestion to Target Chinese Imports

    The New Tax Acts and Tax ID – What You Need to Know

    The New Tax Acts and Tax ID – What You Need to Know

    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Seplat Energy Plc to pay US$0.025 (N10.38) final dividend for 2021 financial year

    Seplat Energy Plc announces interim and special dividend for Q3 2025

    MTN Nigeria proposes N23bn Commercial Paper

    MTN Nigeria announces interim dividend of ₦5.00 for Q3 2025

    Nigeria Exchange Group Declares ₦1.00 Interim Dividend for Q3 2025

    Nigeria Exchange Group Declares ₦1.00 Interim Dividend for Q3 2025

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    Aradel Holdings Plc proposes ₦10.00 interim dividend per share to Shareholders

    Aradel Holdings Plc acquires stake in Chappal Energies Mauritius Limited

    Aradel Holdings Plc delivers strong 9M financial performances

    First HoldCo Plc Appoints New Group Company Secretary

    First Bank of Nigeria Limited redeems its $350 million Eurobond

    MeCure Revenue Jumps 99% to ₦60 billion, Profits Rise 186% in Nine Months

    MeCure Revenue Jumps 99% to ₦60 billion, Profits Rise 186% in Nine Months

    VFD Group Unveils Details of ₦50 Billion Rights Issue

    VFD Group’s Gross Earnings Rises 35% to N60.7 billion in nine months

    Nestlé SA launches new nutrition solutions for fertility and pregnancy

    Nestlé Nigeria Hits N72.5bn Profit in Nine Months as Revenue Jumps 33%

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Dangote Cement Profits Soar to ₦743bn on Price Increase

    Dangote Cement Profits Soar to ₦743bn on Price Increase

    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

    NGX Lifts Eight-Year Suspension on Aso Savings & Loans, Stock Price Soars

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Presco Plc Declares ₦10 Interim Dividend for Q3 2025

    VFD Group Unveils Details of ₦50 Billion Rights Issue

    VFD Group Unveils Details of ₦50 Billion Rights Issue

    Binance Announces $400 Million Recovery Initiative After Crypto Crash

    Binance Announces $400 Million Recovery Initiative After Crypto Crash

    Strategy Inc. Adds 196 Bitcoin for $22.1M, Pushing Holdings to $72B

    Strategy Inc. Adds 196 Bitcoin for $22.1M, Pushing Holdings to $72B

    FY 2020: FCMB Group Plc gross earnings, profit, assets see double-digit growth rates

    FCMB Group Lists 3.16bn Ordinary Shares on NGX Following Loan-to-Equity Conversion

    Bitcoin might be getting ready for $75,000

    MicroStrategy Buys 850 Bitcoin for $99.7 Million

    Falana sues Meta, demands $5m over invasion of privacy

    Meta Unveils Next-Gen Smart Glasses with Built-In AI and AR

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home News

Suspended strike – What NLC and TUC agreed with the Federal Government

Monday, 28 September 2020, 9:01 am
in News, Nigeria
1
Suspended strike – What NLC and TUC agreed with the Federal Government
Share Share Share Share Send as Email

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have suspended the nationwide strike scheduled to commence today (Monday 28 September 2020) to protest the recent hike in electricity tariff and petrol prices.

The planned action was suspended after reaching an agreement with the Federal Government in a meeting that lasted over 6 hours, which ended by 2:50am on Monday.

Confirming the development, Quadri Olaleye was quoted by Punch as saying “Definitely correct. We just left a press conference. We signed a document to suspend the action for two weeks for the government to implement those things that we agreed in the agreement. So, we are suspending for two weeks.

“We don’t need a notice again to re-convene if there is a need to do that.”

  • Read also; Nigerian Stock Exchange Weekly Report: Investors gain N390 billion as Index advance by 2.92%
  • New Electricity Tariff system explained – know your Band

What was agreed

According to the communique signed by the representatives of the government and labour;

“During the two weeks, the DISCOs shall suspend the application of the cost-reflective electricity tariff adjustments,”

A technical committee comprising Ministries, Departments, Agencies, NLC, and TUC that will work for two weeks would be set up with the Minister of State Labour and Employment, Festus Keyamo (SAN) as Chairman

The committee’s task would be to examine the justifications for the new policy “in view of the need for the validation of the basis for the new cost-reflective tariff as a result of the conflicting information from the fields which appeared different from the data presented to justify the new policy by NERC; metering deployment, challenges, timeline for massive rollout.”

FG has fashioned out palliatives in the areas of transport, power, housing, agriculture, and humanitarian support to ameliorate the sufferings that Nigerian workers may experience as a result of the hike in cost electricity tariffs and the deregulation of the downstream sector of the petroleum industry.

In two weeks the Federal Government will announce a specific amount to be accessed by workers with subsequent provision for 240,000 under the auspices of NLC and TUC for participation in agricultural ventures through the Central Bank and the Ministry of Agriculture.

This is to cushion the impacts of the downstream sector deregulation and tariffs adjustment in the power sector according to the communique.

FG will also facilitate the removal of tax on minimum wage as a way of cushioning the impacts of the policy on the lowest vulnerable.

133 CNG/LPG-driven mass transit buses immediately will be made available to the organized labour by the FG. The government will provide to the major cities across the country on a scale-up basis thereafter, to all states and local governments before December 2021.

“On Housing, 10 percent to be allocated to Nigerian workers under the ongoing Ministry of Housing and Finance initiative through the NLC and TUC,” the communique disclosed.

It was agreed that the composition of DISCO’s boards would reflect the 40 percent stake of government in the DISCO and the stake of workers.

It was also agreed that “an all-inclusive and independent review of the power sector operations as provided in the privatization MoU to be undertaken before the end of the year 2020, with labour represented.

The government and its agencies agreed to ensure delivery of 1 million CNG/LPG AutoGas conversion kits, storage skids, and dispensing units under the Nigeria Gas Expansion Programme by December 2021 to enable the delivery of cheaper transportation and power fuel.

The rehabilitation of the nation’s four refineries will be expedited with 50 percent completion achieved in Port Harcourt, Warri, and Kaduna by December 2021 whereas while timelines and delivery for Warri and Kaduna will be established by the inclusive steering committee.

A team comprising the representatives of the NNPC, Nigeria Extractive Industries Transparency Initiative, Infrastructure Concession Regulatory Commission, NUPENG, and PENGASSAN would be established to monitor the progress of the rehabilitation of the refineries and the pipelines/strategic depots network and advice the steering committee periodically.

In addition, NNPC shall involve the PENGASSAN and NUPENG in the process of establishing the operational model of the nation’s refineries after the rehabilitation process.

The statement added, “The Federal Government will facilitate the delivery of licensed modular and regular refineries, the involvement of upstream companies in petroleum refining and establishing the framework for financing in the downstream sector.

“NNPC to expedite work on the Build, Operate and Transfer framework for the nation’s pipelines and strategic depots network for efficient transportation and distribution of petroleum products to match the delivery timelines of the refineries as agreed.”

Written by;

Ifunanya Ikueze

Related Posts:

  • New naira notes
    JUST IN: NLC, TUC suspend planned nationwide strike
  • Suspended
    Fuel Subsidy: NLC, TUC suspend planned nationwide…
  • NLC TUC
    NLC, TUC declare nationwide indefinite strike
  • Suspended
    JUST IN: NLC, TUC suspend strike
Previous Post

Nigerian Stock Exchange Weekly Report: Investors gain N390 billion as Index advance by 2.92%

Next Post

Hybreed Forex Forecast Analysis Weekend 28th September to 2nd October 2020

Next Post
Forex Forecast for the week; 6th July – 10th July 2020

Hybreed Forex Forecast Analysis Weekend 28th September to 2nd October 2020

Please login to join discussion
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2025, qualification and payment dates

Seplat Energy Plc to pay US$0.025 (N10.38) final dividend for 2021 financial year

Seplat Energy Plc announces interim and special dividend for Q3 2025

How to recover unclaimed dividends in Nigeria

How to recover unclaimed dividends in Nigeria

Presco Plc to Raise ₦236.7 Billion via Rights Issue, Offer Details

Presco Plc to Raise ₦236.7 Billion via Rights Issue, Offer Details

Seplat Energy Plc to pay US$0.025 (N10.38) final dividend for 2021 financial year

Seplat Energy Plc announces interim and special dividend for Q3 2025

MTN Nigeria proposes N23bn Commercial Paper

MTN Nigeria announces interim dividend of ₦5.00 for Q3 2025

Nigeria Exchange Group Declares ₦1.00 Interim Dividend for Q3 2025

Nigeria Exchange Group Declares ₦1.00 Interim Dividend for Q3 2025

CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

Aradel Holdings Plc proposes ₦10.00 interim dividend per share to Shareholders

Quick Links

News
Economy
Markets
Business
Opinion & Analysis

Newsletter Signup

Contact Investogist

info@investogist.com

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us

Copyright © 2025 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Business
    • Companies
    • Industry
    • Technology
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies

Copyright © 2025 investogist.com, All Rights Reserved