General
NSE Employees Donate Funds to WARIF Foundation
By Modupe Gbadeyanka
During the last Christmas holidays, employees of the Nigerian Stock Exchange (NSE) further showed their golden hearts to a Lagos-based non- profit organisation, Women at Risk International Foundation (WARIF), by donating funds to support its initiatives.
This was part of the local bourse’s Employee Give-Back initiative, a scheme designed to encourage workers to make a positive impact in their communities whilst providing them with hands-on experience and learning opportunities on issues that plague the society.
The donation to WARIF builds on the longstanding tradition of donating money, food items and volunteering time by NSE employees in their bid to make a positive impact in the society.
Prior to this donation, NSE employees participated in the WARIF No tolerance for rape walk, which was held on Saturday, December 7, 2019, in commemoration of the United Nations ‘16 Days of Activism’ for Gender-Based Violence.
Head of Corporate Communications at NSE, Mr Olumide Orojimi, while presenting the donation to WARIF, stated that, “Giving back by volunteering our time, donating money and other essentials is at the core of our culture at the NSE.
“In addition, we believe that promoting gender equality and diversity is a critical success factor for global economic prosperity.
“At the exchange, we champion an organisational culture that promotes diversity and inclusion as well as the wellbeing and development of all employees through the implementation of gender friendly policies.”
Over the years, NSE employees have raised funds for worthy causes. During the 2018 Easter celebrations, members of staff of the exchange donated money to fund medical bills for 10 children in SOS Children’s Village, Lagos.
In 2017, they donated various food and household items to charities across the country including The Lagos Food Bank Initiative, Agege, Lagos, Total Parental Guidance Orphanage, Ibadan, Oyo State and Christian Relief Fund Motherless Babies Home, Obosi, Anambra State, all selected based on employees’ nomination and were selected via a random ballot system.
The exchange continues to build a thriving capital market by championing sustainability along four key impact areas of Marketplace, its platform for promoting market-based approach to Environmental, Social and Governance (ESG) imperatives; Community, where the NSE makes contributions to positively impact lives; Workplace, through which the Exchange facilitates diversity, wellbeing and harnesses the talents and skills of its people; and the Environment as it focuses on reducing its environmental impact.
The latest beneficiary of these gestures, WARIF, was established in 2016 in response to the high incidence of sexual assault, rape and human trafficking occurring amongst young girls and women across Nigeria.
General
Electricity Workers Issue 21-Day Strike Notice Over Pay, Working Conditions
By Adedapo Adesanya
Electricity workers, under the aegis of the National Union of Electricity Employees (NUEE), have issued a 21-day nationwide strike notice to the federal government, citing unresolved labour grievances and what they described as worsening conditions across the power sector.
They formally notified the Minister of Power, Mr Adebayo Adelabu, of their intention to embark on industrial action if urgent steps are not taken to address the persistent violations of workers’ rights within the Nigerian Electricity Supply Industry (NESI).
In the letter, the union accused power sector operators of refusing to honour collective agreements, implement the 2025 National Minimum Wage Act and effect its consequential adjustments. It also alleged widespread anti-labour practices across power generation and distribution companies.
“We have written several letters to the ministry on these issues, but there has been little or no response,” the union stated, expressing frustration over what it described as official indifference.
Among the grievances listed are non-remittance of pension deductions and Pay-As-You-Earn (PAYE) taxes, denial of workers’ right to unionise, intimidation of staff, and failure to improve welfare despite repeated tariff increases.
The union said in some distribution companies, pension contributions deducted from workers’ salaries have allegedly remained unpaid for years, leaving employees uncertain about their retirement security.
The electricity workers also criticised what they termed the “militarisation” of workplaces, alleging harassment and threats in certain power firms.
According to the union, labour is increasingly being treated as an adversary rather than a critical stakeholder in a sector already struggling with public confidence.
The notice further questioned the performance of investors who acquired power assets during the 2013 privatisation exercise.
The union argued that promises of improved infrastructure, capital injection, metering expansion and better service delivery have not translated into meaningful gains for workers or consumers.
While electricity tariffs have risen multiple times in recent years, the union said workers have seen no corresponding improvement in salaries, promotions, bonuses or working conditions.
Business Post reports that the ultimatum likely places the federal government under pressure to act as a nationwide strike would significantly disrupt power generation and distribution, affecting homes, hospitals, small businesses and critical infrastructure already grappling with unreliable supply.
General
Oyetola Warns Budget Shortfall Threatens Operations of NPA, NIMASA, Others
By Adedapo Adesanya
The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, has warned that operations of agencies under his ministry were being severely constrained by excessive deductions at source by the Office of the Accountant-General of the Federation.
He disclosed on Tuesday while presenting a N10.5 billion budget proposal for the Federal Ministry of Marine and Blue Economy for the 2026 fiscal year.
He lamented that the allocation was grossly insufficient to effectively execute the ministry’s wide-ranging mandate, critical to Nigeria’s trade, transport efficiency and food security.
Mr Oyetola while defending the ministry’s budget before a joint sitting of the Senate Committee on Marine Transport and the House of Representatives committees on Ports and Harbours; Maritime Safety, Education and Administration; Shipping Services; Inland Waterways; and Ocean and Fisheries, said the proposed budget, which comprises N8.24 billion for capital expenditure, N453.86 million for overheads and N1.81 billion for personnel costs, would only sustain minimal operational continuity rather than deliver meaningful reforms or sectoral growth.
The minister explained that the ministry oversees interconnected subsectors, including ports, shipping, inland waterways, fisheries and aquaculture, which collectively handle over 90 per cent of Nigeria’s international trade by volume, national food and nutrition security, and economic competitiveness.
He noted that while agencies such as the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Shippers’ Council (NSC) were self-funding and made significant remittances to the Consolidated Revenue Fund, their operations were being severely constrained by excessive deductions at source by the Office of the Accountant-General of the Federation.
According to him, these deductions had weakened liquidity and reduced the operational flexibility of key agencies responsible for maritime safety, port efficiency and regulatory oversight, with far-reaching consequences including port congestion, higher logistics costs, delayed cargo movement, revenue losses and inflationary pressures.
He stressed that what appeared to be an accounting issue had become a national economic concern.
Mr Oyetola also said that the 2026 budget of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) was wrongly placed by the Budget Office under the Federal Ministry of Transportation, even though it is an agency under the Federal Ministry of Marine and Blue Economy, saying the misalignment undermined clarity in oversight and policy coherence within the maritime logistics value chain.
On inland waterways, the Minister appealed for increased funding to curb accidents and loss of lives. He said water transport is globally recognised as significantly cheaper than road transport.
He noted that Nigeria’s heavy reliance on road haulage for over 80 per cent of freight movement had worsened road deterioration and increased the cost of goods, arguing that safer and more efficient inland waterways would ease pressure on roads and lower logistics costs.
On fisheries and aquaculture, Oyetola said Nigeria’s annual fish demand of over 3.6 million metric tonnes far exceeded domestic production of about 1.4 million metric tonnes, sustaining imports valued at more than one billion dollars annually.
He added that post-harvest losses of up to 30 per cent further reduced supply, despite fish being one of the most affordable sourNiger.
“As long as we hinder official trade, individuals will resort to informal channels. Currently, we estimate that up to 50 per cent of our domestic areas have resorted to illegal trade, while only about 30 per cent is conducted legally, which is detrimental to our security.”
He pointed out that “this situation is beneficial for the economies of both countries. It will positively impact our maritime sector, as we expect an increase in transit cargo passing through our ports to Niger, resulting in economic activities for our investors in the maritime industry.
“Additionally, this development will benefit Nigerians in border communities, many of whom are engaged in farming and other economic activities, providing them with opportunities to export goods to Niger.”
General
Gaya Rallies APC Support for Governor Abba Yusuf
By Abba Dukawa
The independent non-executive director of the Nigeria Sovereign Investment Authority (NSIA), Mr Abdullahi Mahmud Gaya, has called on members of the All Progressives Congress (APC) and key stakeholders in Ajingi, Gaya, and Albasu Local Government Areas of Kano State to close ranks and give their full support to the state governor, Mr Abba Kabir Yusuf.
Mr Gaya described the governor’s defection to the ruling party as a bold and strategic move that reflects his deep commitment to the development and progress of Kano State, noting that APC members and stakeholders in the areas warmly welcomed the governor into the party, alongside elected and appointed officials, party leaders, and other critical stakeholders.
He made this statement during a meeting with APC leaders and stakeholders from the three local government areas, held at his office in the state capital.
According to him, the governor’s courageous decision will strengthen Kano State’s influence at the national level and open new opportunities for economic growth, improved welfare, and greater prosperity for the people.
He also urged party members to take ownership of the democratic process by ensuring they collect their APC membership cards and Permanent Voter Cards (PVCs).
In a show of solidarity and goodwill, Mr Gaya donated N6 million to party members and stakeholders during the meeting as Ramadan support.
Speaking at the gathering, a former Secretary to the State Government and Wazirin Gaya, Usman Alhaji, called on party members to intensify efforts toward strengthening the APC in the area. He said the party’s growing numerical strength in Ajingi, Gaya, and Albasu Local Government Areas already positions it as the party to beat.
Also addressing the meeting, elder statesman and senior stakeholder, Mr Uba Muhammad Danbayye, noted that the party members now recognizes the difference between a mere candidate and a true politician, saying based on Mr Gaya’s leadership style and strong relationship with the people, stakeholders have unanimously resolved to support him and will not field another candidate for the House of Representatives in the upcoming election.
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