General
Lagos Demands 1% Exclusive Revenue Allocation Formula
By Adedapo Adesanya
The Lagos State Government has demanded a one per cent share in the revenue allocation formula, maintaining that the special status of the state and its prosperity directly or indirectly have multiplying effects on the country.
The demand was made by the state governor, Mr Babajide Sanwo-Olu, on Monday at the opening of a two-day South-West Zonal Public hearing on the review of revenue allocation formula by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) held on Monday at Lagos Continental Hotel, Victoria Island.
Speaking at the event, the Governor proposed that the revenue sharing formula should be 34 per cent for the federal government including one per cent for FCT – Abuja while 42 per cent should go to state governments while 23 per cent for local governments and one per cent for Lagos State (Special Status).
This is against the current revenue allocation formula, which is 52.68 per cent, 26.72 per cent and 20.60 per cent for Federal Government, 36 state governments and 774 local governments respectively.
Mr Sanwo-Olu said in a memorandum on review of Revenue Allocation Formula he submitted to the RMAFC declared that allocating one per cent for Lagos State (Special Status) and allowing the three tiers of government to share 99 per cent in a new revenue sharing formula is very straightforward, self-justifying and in no way controversial.
He said the review of the current revenue allocation formula was long overdue, noting that the best way to guarantee national progress and development was by paying attention to sub-national development because the national is a summation and a reflection of the sub-national.
He also reiterated the call for Lagos State to be accorded special status in recognition of its huge financial commitments to infrastructure and provision of basic amenities for the increasing population of its residents, as well as its preeminent contribution to the national coffers.
He said the call, which has been re-echoed at different fora and at various levels and tiers of government, cannot be overemphasised, especially against the backdrop of the current economic situation of the country, the aftermath of the EndSARS protests a year ago, and the devastating effects of the COVID-19 pandemic, for which Lagos has been the national epicentre.
“Our demand is a sharing formula that is just, fair and equitable; reflecting the contribution of stakeholders to the common purse, and also one that enhances the capacity of state and local governments to deliver high-quality services and the full dividends of democracy to the greatest number of our people.
“Lagos State is no doubt the nation’s commercial capital, and population centre. The level of funding required to service the State’s social and public infrastructure is so significant that it will be difficult for the State to bear the burden for much longer under the present arrangement.
“I should say that it will actually be unfair to expect the State to bear this heavy burden on its own. It is, therefore, necessary to give due consideration to all the variables that support our advocacy for a Special Status.
“The call for a special status for Lagos is not a selfish proposition; it is in the best interest of the country and all Nigerians, for Lagos which accounts for about 20 per cent of the national GDP and about 10 per cent of the nation’s population to continue to prosper,” the Governor said.
Justifying the need for Lagos State to be accorded special status, Mr Sanwo-Olu said Lagos is more than just another state in the Nigerian federation, noting that there is no tribe in the country that has no significant stake in Lagos State.
He said: “As the former capital of the country for 77 years (compared to the 30 years that Abuja has been the Federal Capital Territory), Nigeria’s largest metropolis still bears the heavy brunt of being home to all Nigerians; irrespective of age, class, gender, religious affiliation or tribe.
“There are several statistics that show the number of people that comes into Lagos every day, however, there are clear indications that most of these people migrate with the intention to make Lagos their new home and in pursuit of personal dreams due to the opportunities the city-state seemingly possesses, and this portends additional responsibilities on the government.
“Additionally, Lagos still harbours a huge number of federal establishments which could not be moved to Abuja. These include military cantonments and barracks, Police, Customs, Immigration, Civil Defence, Prisons, Road Safety and security/intelligence establishments.
“There are several reasons to justify the call for a special status for Lagos apart from the aforementioned factors and by extension, a review of the Revenue Allocation Sharing Formula.”
Governor Sanwo-Olu also said that it would be unfair for Lagos State to be left alone to bear the burden of the massive destruction experienced by the state during the EndSARS protests hijacked by hoodlums and the COVID-19 pandemic without assistance from the central government.
He then commended the RMAFC for taking a bold step, which he believed will “result in a fundamental alteration of the current revenue sharing formula, in favour of one that is truly fair and equitable, and that takes into full consideration the specific and more pragmatic fiscal contexts of the sub-national governments of the Federation.”
General
JMG Offers Solutions for Greener Environment
JMG Limited, a premier provider of electro-mechanical solutions in Nigeria, joins the world in celebrating this year’s International Day of Clean Energy, which promotes the transition from fossil fuels to renewable energy sources.
Observed annually on 26th January, the global event was declared by the United Nations General Assembly as a call to raise awareness and mobilize action for a just and inclusive transition to clean energy for the benefit of people and the planet.
Marking this year’s event, JMG Limited, a leading company that caters to a wide array of business and industrial requirements, reaffirms its commitment to meeting the needs of its customers through solutions that add value to their operations and the society.
The company’s Group General Manager, Rabi Jammal, stated that commemorating the global day is crucial as it inspires individuals, communities, businesses, and governments to adopt sustainable energy solutions and their attendant economic and social benefits.
He said this helps to foster environment conservation and palliate the crisis with non-renewable fuels, such as gas and oil, which aligns with what JMG’s product offerings enable.
According to him, JMG’s specialised solutions are eco-friendly and can upgrade the places where people work and live. Its slogan, “from power to plug,” emphasises the transformation by highlighting its wide range of clean energy solutions for homes and businesses.
He averred that the company’s products can be used to power structures, cool environments, transport people in buildings, enhance industrial output, and expand its portfolio with products that offer more energy efficiency to help reduce their electricity bills and save on fuel expenses, thereby curbing the issue of emission.
In line with its clean energy initiative, the company prioritises sustainable power solutions, offering solar and cost-effective hybrid options, including Lithion inverters and batteries since 2018 and Livfast inverters & batteries in 2022.
In 2024, the company expanded its solar power offerings with LONGi solar panels, Deye lithium batteries, and Must solar inverters, providing a comprehensive range of alternative power solutions to customers.
JMG Limited has attained significant milestones in its commitment to excellence, environmental responsibility, and occupational health and safety by acquiring three key ISO Certifications, 9001:2015, 14001:2015, and 45001:2018, which attests to its dedication to maintaining high standards in its operations.
General
Olam Agri to Sustain Significant Investments in Workforce, Food Value Chain
By Aduragbemi Omiyale
The managing director of Olam Agri in Nigeria, Mr Anil Nair, has assured us that more investments in the company’s workforce will be made for economic growth.
He gave this assurance while reacting to the recognition of the organisation as a Top Employer for the fifth consecutive time by the Top Employers Institute.
“As we celebrate this recognition, we also look to the future. Olam Agri is committed to scaling our HR practices to ensure alignment with global standards.
“We will continue to make significant investments in our people and the food value chain, enriching lives and driving economic growth.
“Our goal is to create an environment where our employees can excel and thrive, and we are dedicated to achieving this.
“Olam Agri’s continued success as a Top Employer reflects its unwavering dedication to fostering growth, well-being, and excellence in its operations,” he stated.
Also commenting, the firm’s Regional Head of Human Resources, Jaideep Biswas, said, “Our people-centric strategy aligns with the dynamic demands of the global talent landscape, embedding diversity, equity, and inclusion at the core of our operations.
“This certification validates our approach, but we’re not stopping here. We remain committed to helping our workforce thrive in a rapidly evolving work environment.”
In the annual HR Best Practices Survey of the Top Employers Institute, Olam Agri in Nigeria was named the Top Employer because of its exceptional workplace culture, innovative HR strategies, and growing appeal to talent locally and globally.
“Consistency in a not-so-consistent world is remarkable. Amidst technological advances, economic shifts, and evolving social landscapes, it’s inspiring to see organisations like Olam Agri rise to the challenge.
“This year’s certification celebrates those who continue to lead with people-first strategies, setting the standard for enriching the world of work,” the chief executive of Top Employers Institute, Mr David Plink, said.
The institute evaluates organisations based on a comprehensive survey covering six key HR domains and 20 topics: People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity and Inclusion, and Wellbeing.
Since 2020, Olam Agri’s operations in Côte d’Ivoire, Ghana, Nigeria, South Africa, and the Africa region have consistently earned top rankings, solidifying its reputation as an employer of choice.
As a leading agribusiness in food, feed, and fibre, Olam Agri is deeply committed to making a positive impact on its workforce, customers, host communities, and stakeholders.
General
Proposed NLC Protest Over Tariff Hike Unnecessary—Subscribers
By Adedapo Adesanya
The National Association of Telecommunication Subscribers (NATCOMS) has distanced itself from the planned industrial action by the Nigeria Labour Congress (NLC) against the recently approved telecommunication tariff hike.
According to NATCOMS President, Mr Deolu Ogunbanjo, in a statement on Thursday, the proposed protest was unnecessary, warning that it could send negative signals to investors.
Earlier this week, the Nigerian Communications Commission (NCC) approved a 50 per cent tariff adjustment in response to rising operational costs following over 11 years of discussion.
The move has raised worries and one of the parties which have been vocal about is NATCOMS.
The subscribers’ group and the labour union criticized the move, describing it as excessive and burdensome for Nigerian consumers.
On the part of the union, Mr Joe Ajaero, the NLC President, called on the industry regulator and the National Assembly to halt the 50 per cent implementation, urging Nigerian workers and the public to reject the hike, suggesting a nationwide boycott of telecommunication services as a possible course of action.
“This is for our dignity, our rights, and our survival as a people. The NLC remains resolute in defending the interests of Nigerian workers and the masses.
“We will resist this injustice and demand that the government prioritizes the interests of its citizens over corporate interests,” Mr Ajaero said.
But NATCOMS has advocated legal action and not the proposed protest.
“We do not support the Nigerian Labour Congress’ call for industrial action. No, we don’t! NATCOMS is not in support,” Mr Ogunbanjo stated.
“To investors and businesses, it is a wrong signal. Negotiation is still ongoing, and the tariff hike is scheduled for February. We still have eight days,” he added.
Business Post had reported that NATCOMS is engaging with the NCC to find a resolution and is prepared to approach the courts if consultations fail.
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