General
SERAP Tasks Tinubu on Minimum Wage
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to ensure that his government’s proposed bill on a new minimum wage for Nigerian workers is consistent and compatible with the country’s international obligations to promote and advance the right of workers to an adequate living wage.
The rights group made the call through a statement issued by its deputy director, Mr Kolawole Oluwadare, on Sunday.
The President in his Democracy Day Speech on June 12 stated, “We shall soon send an executive bill to the National Assembly to enshrine the new minimum wage as part of our law for the next five years or less.”
In the letter dated June 15, 2024, the organisation said, “The reportedly proposed level of the minimum wage in the executive bill is grossly inadequate and falls short of the requirements of international human rights treaties to which Nigeria is a state party.”
SERAP said, “The executive bill should reflect the international standards that Nigerian workers should be provided, at a minimum, with a living wage, per cost of living.”
According to the group, “As you and your government know, Nigerian workers face many human rights challenges. Most of the people living in poverty work, yet they do not earn a wage sufficient to afford an adequate standard of living for themselves and their families.”
“Any proposed minimum wage that fails to guarantee a life in dignity for Nigerian workers and their families would be entirely inconsistent and incompatible with international standards.
“Successive governments have persistently and systematically violated these guarantees. Millions of Nigerian workers remain poor due mainly to low wages and a lack of social security and social protection.
“If your government sends to the National Assembly any bill which fails to meet the requirements of international standards, and the bill is then passed into law, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest.
“The proposed recommendations are not unrealistic, as they are based on Nigeria’s international human rights obligations. Human rights are not a matter of charity. Upholding Nigeria’s international obligations regarding the right of workers to an adequate living wage would protect the purchasing power of workers in poverty.
“We urge you to put the country’s resources at the service of human rights and to advance Nigerian workers’ right to an adequate living wage by immediately cutting the cost of governance and implementing bold transparency and accountability measures in ministries, departments and agencies (MDAs).
“We urge you and your government to urgently propose cuts in the huge budgetary allocations to fund security votes, jumbo salaries and allowances paid to members of the National Assembly, and unlawful life pensions to former governors and their deputies.
“We also urge you and your government to immediately and fully recover missing public funds from MDAs, as documented in the several reports published by the Auditor-General of the Federation.
“These would enable you and your government to effectively comply with Nigeria’s international legal obligations regarding workers’ right to an adequate living wage,” the letter read in part.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has inaugurated a new board for the Agricultural Credit Guarantee Scheme Fund (ACGSF) with a renewed push to expand agricultural lending through technology, innovation and deeper financial inclusion.
Speaking at the inauguration in Abuja, Mr Cardoso said the scheme, established in 1977, remains a critical instrument for de-risking credit to farmers nationwide.
“The ACGSF has demonstrated enormous value in supporting Nigeria’s food system. With repayment rates consistently between 90 and 98 percent, it is clear that farmers can deliver when given access to credit,” he said.
The CBN Governor stressed the need for a more modernised approach to agricultural finance.
“We must scale up innovation, deepen inclusion and deploy technology to ensure that more farmers, especially women and youth, can benefit from this scheme,” Mr Cardoso stated, charging the new board to strengthen collaboration with financial institutions while ensuring real-time tracking and monitoring of loans to improve productivity and safeguard the fund’s integrity.
The newly inaugurated Board is chaired by Dr Olusegun Oshin, with members including Professor Murtala Sabo Sagagi, Dr Nneka Onyeali-Ikpe, Mr Frank Satumari Kudla, Ms Olusola Sowemimo, Ms Adetoun Abbi-Olaniyan and Mr Wondi Philip Ndanusa.
Mr Cardoso expressed confidence in the team’s ability to reposition agricultural credit delivery.
“This Board comes at a crucial time. We expect stronger oversight, improved efficiency and a renewed focus on rural livelihoods,” he said.
According to a statement from the apex bank, Deputy Governors, Directors and senior officials of the bank were present at the ceremony.
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