Nigerian press spotlights appeal by private sector, CSOs to govt to avert strike action, others

APA – Lagos (Nigeria)
The report that the Organised Private Sector of Nigeria (OPSN) has called on the Federal Government and labour unions to work harder to avert the looming disruption of socio-economic activities across the country this week is one of the trending stories in Nigerian newspapers on Monday.
The Guardian reports that the Organised Private Sector of Nigeria (OPSN) has called on the Federal Government and labour unions to work harder to avert the looming disruption of socio-economic activities across the country this week.
The appeal was made as members of the Nigeria Labour Congress (NLC) meet tomorrow to agree on a date for an indefinite nationwide strike over petrol subsidy removal and associated matters. This would be the fourth proposed strike since June this year.
Head of Secretariat, OPSN, Segun Ajayi-Kadir, who expressed concern yesterday, said the economic indicators were not good, as the economy could not afford a nationwide strike at this time.
Worried that adequate consideration had not been given to the dire situation of the economy and the devastating impact that a nationwide strike would have on the country at this time, he said government and labour needed to understand that the economy is being de-marketed, and the livelihood of the average Nigerian is being diminished by the incessant bickering.
The threat of industrial action follows the expiration of Labour’s 21-day ultimatum for the government to address the mass suffering and the impoverishment experienced around the country, occasioned by the removal of fuel subsidy.
Already, members and affiliates of the Trade Union Congress of Nigeria (TUC) planned to shut down commercial activities in Lagos today over an alleged illegal ban on Road Transport Employers Association of Nigeria (RTEAN).
The newspaper says that the Nigeria’s High Commissioner to South Africa, Muhammad Haruna Manta, has disclosed that some 500,000 Nigerians are classified as undocumented citizens in the country, while 8,900 are professionals and students.
He said Nigerians in South Africa are classified into three cadres: students, of which there are about 6,000; professionals (2,900) with footprints in medicals, education, entrepreneurship, among others; and about 500,000 who are currently classified as undocumented.
He spoke at the weekend at MTN’s Group Head Office in Johannesburg, South Africa, when some Nigerian journalists on a media tour (courtesy of the Media Innovation Programme, Cohort 2) visited the telecommunications firm.
The High Commissioner, who noted that the data was of 2021, said the commission is doing everything possible to ensure Nigerians are treated well, secure, and contribute positively to the South African economy.
Manta said everything is being done to ensure relationship between Nigeria and South Africa remains cordial, stressing that both countries have been power houses of the continent for years.
On Nigeria missing out on membership of the BRICS bloc, he clarified that the country has not applied officially.
BRICS consists of Brazil, Russia, India, China, and South Africa – emerging economies – in alliance for common development. In August, South Africa hosted the 2023 BRICS meeting, where it officially invited Saudi Arabia, UAE, Egypt, Iran, Argentina, and Ethiopia to become new full-time members, subsequently expanding the group from five to 11 states. When the new states eventually join in 2024, the bloc will account for 37.3 per cent of the world’s GDP, which is expected to rise to 37.7 per cent in 2025 and 38.5 per cent in 2028.
According to the International Monetary Fund, BRICS’ population will also grow from its current 3.2 billion by, at least, 400 million, significantly higher than the G-7’s combined population of 800 million.
Many observers had queried the exemption of Nigeria, adjudged to be the largest economy in Africa.
The Punch reports that over two weeks after the Central Bank of Nigeria promised to clear over $10bn foreign exchange debts owed Deposit Money Bank, the apex bank has yet to do so according to findings by The PUNCH.
This came as the naira was sold between 990/$ and 995/$ by Bureau De Change operators on Friday and Saturday in Lagos, Abuja and Kano.
On the Investor & Exporter forex window, the naira however appreciated to 747.76/$ on Friday, from 772.98/$ on Thursday.
The immediate past acting CBN Governor, Folashodun Shonubi, on September 6, 2023, said the apex bank had concluded negotiation on dollar debts with commercial banks, disclosing that all forex exchange backlogs would be cleared within one to two weeks.
According to him, deposit money banks have assisted the apex bank to clear the majority of its overdue FX forward contracts at maturity.
As such, he said the CBN had reached an agreement to reimburse the lenders within one or two weeks following extensive debt restructuring talks that lasted over a long period of time.
“In response to questions about the backlogs, the banks have been working with the CBN on various structures to clear them. So, what happens is that at maturity, they make the foreign exchange available to those that need it.
The newspaper says that oil marketers are increasingly worried they can’t import petrol due to the dollar shortage in the country. Despite the deregulation of the downstream sector, concerns have been raised about the potential comeback of the country’s persistent fuel scarcity.
Expectations were high when oil marketers canvassed for the removal of fuel subsidies, and deregulation of the downstream sector. Many were optimistic that the deregulation of the downstream sector would break the monopoly of the Nigerian National Petroleum Company Limited in petrol importation and bring an end to the country’s perennial scarcity of the product.
However, months after President Bola Tinubu pronounced an end to fuel subsidies on May 29, the country has not been able to end NNPCL’s monopoly in petrol importation.
After the first batch of 27 million litres of petrol imported by Emadeb Energy in July, independent oil marketers have not been able to bring in a single drop of petrol. The national oil firm has remained the sole importer of petrol.
The monopoly in the downstream sector has made a mess of the deregulation of the sector, giving NNPCL the power to continue to fix prices and putting the country at risk of fuel scarcity.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority and NNPCL had argued that other marketers were free to import petrol, as those who had applied for importation licenses had been given.
The National Controller Operations of the Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, told The PUNCH that marketers were not importing petrol because of forex scarcity and the increasing price of crude oil at the international market.
GIK/APA