Economy
Are You Looking After Your Domestic Worker?
Domestic workers are integral to many of our homes, but are you making sure the person who keeps the wheels of the house turning while you’re at work is being treated fairly? Read on for five ways you can make a difference in her life.
The small details count
If you think about how lovely it is to have small perks at your work, the same holds true for your domestic worker. Tiny details can make a big difference, such as giving her the household’s Wi-Fi password so that she can listen to music on her phone while working, and by creating a dedicated space where she can put her handbag or bag down and safely keep items like toiletries to freshen up with after a long day’s work.
“Many domestic workers live lives that are more challenging than most of us could ever imagine, so think of things you can do to make her life easier,” says Aisha Pandor, CEO of SweepSouth Connect, a new on-demand home services company in Nigeria. “For instance, if you are able, pick her up at the public transport drop-off point closest to your home. It’s an empathetic gesture that saves her time, allowing her to spend more quality time with her family.”
Create a relationship
How much do you know about the individual who – very often – is at the heart of your household? A social and economic power imbalance already exists between you and your domestic worker, so make a real effort to bridge it. Ask her about her life, her family and what keeps her awake and worrying at night. A great way to build a positive relationship is by recognising areas she excels in and giving positive feedback on work done well.
Upskill your domestic worker if you can, with a cooking course, driving lessons or a course in first-aid and CPR. Learning a new skill is not only empowering, it helps her become more employable should anything happen to affect her employment status with you. If you can’t afford to pay for a course, pay it back by giving your domestic worker an hour in her working day with you to do a free course, and assist with online registration. Another lovely gesture is to give her any points or credits you’ve accumulated from retailers at the end of the year to help her buy groceries or Christmas gifts for her family.
Is she safe in your home?
Domestic workers are often alone at your home during the day, shouldering a lot of responsibility to keep the property safe and protect any children or pets left in their care. Have regular talks about safety and security protocols so that she knows exactly what to do in case of an emergency, and have the numbers of local emergency, medical and police services on display.
Always inform your domestic worker about any contractors coming to work on your premises during the day and caution her to never open the door for strangers, regardless of the story they give. The media is full of reports of criminals conning their way into homes then assaulting and tying up domestic workers before ransacking the house. Take every safety precaution you can – your domestic worker also has a family she wants to safely get home to at the end of the day.
Make sure that what you pay is fair
Domestic workers are some of the most vulnerable members of the labour system, says Aisha. “Each year we conduct research into the living and work conditions of domestic workers, and our last report shows that 48 per cent of the domestic workforce are single parents and 65 per cent are the main breadwinners in the household. They are often trapped in a cycle of poverty, struggling just to make ends meet and put food on the table, so it’s heart-breaking that many of them are still being exploited in terms of long work hours and poor pay. Make sure that you pay a good wage for good work.”
There are many ways, big and small, in which you can make a difference in your domestic worker’s life, says Aisha. “Small acts of kindness, some of which are incredibly easy to do, can make a huge difference to her.”
By Adedapo Adesanya
Nigeria added 150,000 barrels per day to its crude production in November 2024 as it continues to pursue an ambitious 2 million barrels per day target.
According to the Organisation of the Petroleum Exporting Countries (OPEC), Nigeria’s oil production rose to 1.48 million barrels per day in November, up from 1.33 million barrels per day the previous month.
In its Monthly Oil Market Report (MOMR), OPEC revealed that at 1.48 million barrels per day, it is the continent’s leading oil producer, surpassing Algeria’s 908,000 barrels per day and Congo’s 268,000 barrels per day.
Business Post reports that OPEC doesn’t account for condensates, which Nigeria’s accounts for in its broader 2 million barrels per day target.
Despite the surge in production levels, Nigeria is still under producing its 1.5 million barrels per day output quota under a deal involving OPEC and 10 other producers known as OPEC+.
OPEC said it relied on primary data gotten through direct communication, noting that secondary sources reported 1.417 million barrels per day as Nigeria’s crude production in November — up from 1.4 million barrels per day in October.
The data also shows that OPEC’s total oil production among its 12 members rose by 104,000 barrels per day in the month under review.
According to secondary sources, the total of the 12 OPEC countries’ crude oil production averaged 26.66 million barrels per day in November 2024.
“Crude oil output increased mainly in Libya, Iran, and Nigeria, while production in Iraq, Venezuela, and Kuwait decreased”, OPEC said.
“At the same time, total non-OPEC DoC crude oil production averaged 14.01 mb/d in November 2024, which is 219 tb/d higher, m-o-m. Crude oil output increased mainly in Kazakhstan and Malaysia,” the organisation added.
In a related development, OPEC trimmed its 2024 and 2025 oil demand growth forecasts for the fifth time this year.
Now, the cartel expects the world’s oil demand growth at 1.61 million barrels per day from the previously 1.82 million barrels per day.
For 2025, OPEC says the world oil demand growth forecast is now at 1.45 million barrels per day, a 900,000 barrels per day cut from the previously expected 1.54 million barrels per day.
On the changes, OPEC says that the downgrade for this year owes to more bearish data received in the third quarter of 2024 while the projections for next year relate to the potential impact that will arise from US tariffs.
By Adedapo Adesanya
The duo of Afriland Properties Plc and Geo-Fluids Plc crashed the NASD Over-the-Counter (OTC) Securities Exchange by a marginal 0.06 per cent on Wednesday, December 11 due to profit-taking activities.
The OTC securities exchange experienced a downfall at midweek despite UBN Property Plc posting a price appreciation of 17 Kobo to close at N1.96 per share, in contrast to Tuesday’s closing price of N1.79.
Business Post reports that Afriland Properties Plc slid by N1.14 to finish at N15.80 per unit versus the preceding day’s N16.94 per unit, and Geo-Fluids Plc declined by 1 Kobo to trade at N3.92 per share compared with the N3.93 it ended a day earlier.
At the close of transactions, the market capitalisation of the bourse, which measures the total value of securities on the platform, shrank by N650 million to finish at N1.055 trillion compared with the previous day’s N1.056 trillion and the NASD Unlisted Security Index (NSI) went down by 1.86 points to wrap the session at 3,012.50 points compared with 3,014.36 points recorded in the previous session.
The alternative stock market was busy yesterday as the volume of securities traded by investors soared by 146.9 per cent to 5.9 million units from 2.4 million units, as the value of shares transacted by the market participants jumped by 360.9 per cent to N22.5 million from N4.9 million, and the number of deals increased by 50 per cent to 21 deals from 14 deals.
When the bourse closed for the day, Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units valued at N3.9 billion, followed by Okitipupa Plc with 752.2 million units worth N7.8 billion, and Afriland Properties Plc 297.5 million units sold for N5.3 million.
Also, Aradel Holdings Plc, which is now listed on the Nigerian Exchange (NGX) Limited after its exit from NASD, remained the most active stock by value (year-to-date) with 108.7 million units sold for N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.5 million units worth N5.3 billion.
By Adedapo Adesanya
The euphoria around the recent appreciation of the Naira eased on Wednesday, December 11 after its value shrank against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N5.23 or 0.3 per cent to N1,547.50/$1 from the N1,542.27/$1 it was valued on Tuesday.
It was observed that spectators’ activities may have triggered the weakening of the local currency in the official market at midweek as they tried to fight back and ensure the value of funds in foreign currencies strengthened.
The domestic currency was regaining its footing after the Central Bank of Nigeria (CBN) launched an Electronic Foreign Exchange Matching System (EFEMS) platform to tackle speculation and improve transparency in Nigeria’s FX market.
At midweek, the Nigerian currency depreciated against the Pound Sterling by N3.56 to close at N1,958.68/£1 compared with the preceding day’s N1,955.12/£1 and against the Euro, it slumped by 34 Kobo to trade at N1,612.66/€1, in contrast to the previous session’s N1,613.00/€1.
As for the black market segment, the Naira lost N45 against the American currency during the session to quote at N1,670/$1 compared with the N1,625/$1 it was traded a day earlier.
A look at the cryptocurrency market showed a recovery following profit-taking as the US Consumer Price Index report matched economist forecasts.
The news was enough to convince traders that the Federal Reserve is certain to trim its benchmark fed funds rate another 25 basis points at its meeting next week.
The move also saw Bitcoin (BTC), the most valued coin, return to the $100,000 mark as it added a 2.9 per cent gain and sold for $100,566.12.
The biggest gainer was Cardano (ADA), which jumped by 15.00 per cent to trade at $1.16, as Litecoin (LTC) appreciated by 10.4 per cent to sell for $121.76, and Ethereum (ETH) surged by 7.0 per cent to $3,929.30, while Dogecoin (DOGE) recorded a 6.7 per cent growth to finish at $0.4181.
Further, Binance Coin (BNB) went up by 5.2 per cent to $716.72, Solana (SOL) expanded by 4.6 per cent to $229.77, and Ripple (XRP) increased by 4.2 per cent to $2.43, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
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