News
Olubadan, NLC: why we shunned Independence celebration
The Olubadan of Ibadan, Oba Saliu Adetunji, and the leadership of Oyo State branch of the Nigeria Labour Congress (NLC) have given reasons for not attending yesterday’s celebration of the nation’s 57th Independence anniversary.
The event, which held at the Main Bowl of Lekan Salami Sports Complex at Adamasingba in Ibadan, the state capital, was attended by members of the State Executive Council (Exco), heads of ministerial and extra-ministerial boards, agencies and corporations.
Others were security chiefs, including, police commissioner, the General Officer Commanding the 2 Mechanised Division of the Nigerian Army, High Court judges and members of the House of Assembly.
Traditional rulers at the event included the Alaafin of Oyo, Oba Lamidi Adeyemi; the Otun Olubadan of Ibadan, Oba Lekan Balogun; the Balogun of Ibadan, Oba Owolabi Olakuleyin and the Ashipa Olubadan of Ibadan, Oba Eddy Oyewole.
Oba Adetunji’s reserved seat was unoccupied throughout the period of the programme.
Unlike in past years, NLC members were absent at yesterday’s ceremonial march past.
The Olubadan said he would not have attended an event to which he was not invited.
The monarch’s media aide, Mr. Adeola Oloko, said though he was not at the palace yesterday, but he was not aware of any invitation as at 11 a.m on Saturday he left the place.
Oloko said if the palace did not get the government’s invitation to attend a programme that would hold less than 24 hours later, why would anyone expect the monarch to honour it?
But when told that a source had hinted that the monarch’s invitation was delivered at 11 a.m on Saturday, the aide said he was not aware of such invitation at the same time he left the palace.
He said: “I have not been to the palace today (Sunday) but I can tell you that at 11 a.m when I left the palace yesterday (Saturday), no invitation had been delivered to the palace from the state government.
“But when I get to the palace, I will find out if any invitation was delivered to the palace. But come to think of it, if no invitation had been delivered to the monarch as at 11 a.m (on Saturday), which was barely 24 hours to an event, then what are we talking about?”
NLC State Chairman Waheed Olojede said labour unions would not have attended the programme since the government did not invite the workers.
The union leader, who said he confirmed if the situation is the same with the sister arm, the Trade Union Congress (TUC), added that both groups found it unbelievable that the government could organise such an event without inviting the workers.
According to him, the workers had no bad blood with the state government but had supported the administration all along, despite being owed months of salaries and emoluments.
He said the unions could have used the event to discuss with the government the workers’ outstanding salaries and emoluments since they had been supporting the government without complaints on the matter.
Olojede urged the government to have a rethink of how they treat the workers noting that the workers must be seen as the engine room of any system and backbone of any success they want to achieve.
The union leader warned that using labour as mere tools by those in government would no longer be tolerated by the leadership of the workers.
He said: “Labour sees no reason to attend the Independence Day anniversary since the government also saw no reason to invite us.
“We have been supporting the government, despite having salaries and emoluments outstanding with the government.
“I spoke with my counterpart in TUC and I discovered the situation was the same. The workers would have used the opportunity to intimate the government of our welfare and outstanding salaries but the government decided to shut us out.
“There is no bad blood between the workers and the government. As such, we are surprised that no invitation was extended to the workers.
“However, on behalf of the leadership of the workers’ union, I congratulate the workers on the occasional of the Independence Day anniversary.
“We also call on government structures to begin to have a rethink of how they treat workers. We must be seen as engine room of every system and the backbone of any success they might want to achieve.
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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