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Implementation of N494k Minimum Wage, Template for Unemployment, Says Akpabio
The President of the Senate, Senator Godawill Akpabio, has said that the implementation of the national minimum wage of N494,000 demanded by the Organised Labour will force many private companies to dismiss their workers.
Akpabio stated this during an emergency meeting with the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) in Abuja on Sunday evening.
Akpabio, who pleaded with the NLC and the TUC not to go on the indefinite nationwide strike slated for Monday, said people must also be mindful of collateral damage when the new minimum wage being demanded is approved.
“I don’t want us to end up with a lot of serious issues of unemployment because as soon as we arrive at the minimum wage, we will expect the private sector to also adhere and then if they are unable to do so, the next thing will be detachment of workers,” Akpabio said.
He, however, said whatever agreement will be made between the government and the Labour leaders will be in the interest of Nigerians.
“This is a major step in the right direction. Like you said, all of us are workers, we also have workers in our home, and our children are also workers. Whatever agreement we have done will be mutually beneficial to all, the government and the workers,” Akpabio added during the meeting.
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NDC Does Not Sell Party Tickets to Highest Bidders, Dickson Debunks Allegation
A former Governor of Bayelsa State and senator, Seriake Dickson, has refuted allegations that the Nigeria Democratic Congress (NDC) awards nomination tickets to the highest bidders, while acknowledging shortcomings in the party’s recently concluded primary elections.
Responding to questions during an Arise Television interview on Wednesday, Dickson said the party was actively addressing grievances raised by members in several states, including Edo and Imo, where aspirants have protested alleged irregularities and breaches of electoral guidelines.
“I have never claimed that the primary process was perfect. Far from it,” he said, adding that the party had intended to introduce electronic voting to improve transparency but lacked the time and logistical capacity to implement it.
He explained that the adoption of direct primaries under Nigeria’s electoral framework significantly complicated the process, especially for a newly established political platform managing large numbers of aspirants.
“In many cases, there were 15 or 20 aspirants seeking the same position, that naturally created intense competition and disputes,” he noted.
Addressing claims that party structures in some states had been captured by influential individuals who allegedly control access to party tickets, Dickson maintained that such narratives were not supported by evidence at the national leadership level.
On accusations that wealth determined access to governorship tickets, he was categorical in his response: “The NDC does not sell nomination forms or tickets based on wealth. Nobody has come forward with evidence that the National Working Committee or the national leadership collected money in exchange for tickets.”
He, however, acknowledged that financial capacity remains a practical consideration in electoral politics.
“In politics, resources matter. Every political party considers whether an aspirant has the capacity and resources to run a viable campaign,” he said, stressing that this should not be misconstrued as commercialisation of party tickets.
Dickson maintained that while internal disagreements exist, they are being managed within the party’s structures and should not be interpreted as evidence of systemic collapse.
Headlines
N210trn Audit Query: Senate Orders Arrest of NNPC Ex-GMD Mele Kyari
The Senate Committee on Public Accounts has ordered the arrest of former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, following his failure to appear before the committee investigating audit queries relating to NNPCL’s finances between 2017 and 2023.
The directive was issued during an investigative hearing chaired by Senator Ibrahim Dankwambo (PDP, Gombe North) in Abuja.
The committee is probing audit queries raised by the Office of the Auditor-General for the Federation concerning NNPCL’s financial records during the period under review.
Kyari’s absence from the hearing sparked heated debate among committee members, with some senators calling for his immediate arrest, while others urged the panel to grant him another opportunity to appear.
Senators Saliu Mustapha (APC, Kwara Central) and Tony Nwoye (LP, Anambra North) informed the committee that Kyari was reportedly receiving medical treatment in Germany and should be given another chance to honour the invitation.
However, several lawmakers opposed the suggestion.
Senator Abdul Ningi (PDP, Bauchi Central) argued that any claim of illness should be supported by documentary evidence rather than verbal explanations.
Senator Victor Umeh (LP, Anambra Central) subsequently moved a motion for the issuance of a warrant for Kyari’s arrest, which was seconded by the committee’s deputy chairman, Senator Peter Nwaebonyi (APC, Ebonyi North).
Nwaebonyi said the committee had repeatedly invited Kyari without success and stressed the need to conclude its assignment.
“This is the ninth time this committee is meeting on the 19 audit queries raised against NNPCL by the Office of the Auditor-General for the Federation,” he said.
Following a voice vote, the committee adopted the motion and directed that Kyari be brought before it to answer questions relating to the audit issues under investigation.
During the hearing, former NNPCL Chief Financial Officer, Umar Ajiya Isa, rejected claims that N210 trillion was missing or unaccounted for in the company’s records.
Ajiya argued that the figure being discussed exceeded the company’s total revenue during the period in question.
“NNPCL’s total revenue for the period under review was about N54.5 trillion before deducting production costs. It is therefore impossible for N210 trillion to be missing or unaccounted for,” he told the committee.
He maintained that the publication of audited financial statements by the company demonstrated transparency and accountability.
According to him, if such a huge sum had been missing, the company would not have been able to publish audited accounts.
Ajiya also dismissed allegations that N5.8 billion was spent on the registration of NNPC Limited, describing the claim as inaccurate and urging the committee to verify the matter with the Corporate Affairs Commission and the Federal Inland Revenue Service, now known as the Nigeria Revenue Service.
He warned that unverified allegations could damage the reputation of both the company and the country, noting that international rating agencies often rely on publicly available information in assessing investment risks and sovereign ratings.
The former CFO further called on relevant agencies, including the Nigerian Financial Intelligence Unit and the Economic and Financial Crimes Commission, to investigate the claims and establish the facts.
The committee subsequently directed Ajiya and former Chief Upstream Investment Officer, Bala Wunti, to reappear before it in two weeks as the investigation continues.
The Senate panel is expected to submit its findings after concluding its review of the audit queries raised against the national oil company.
Headlines
Economic Reforms Yet to Ease Hardship for Nigerians – IMF
Despite signs of improving macroeconomic stability, the International Monetary Fund (IMF) has argued that many Nigerians continue to face significant economic hardship as high prices and cost-of-living pressures weigh on households.
In its latest assessment of the Nigerian economy, the Fund acknowledged that ongoing reforms have helped strengthen macroeconomic fundamentals, including improved foreign exchange market stability. and stronger external reserves.
It, however, noted that the benefits of these reforms have yet to fully translate into improved living conditions for many citizens.
The IMF projected Nigeria’s economy to grow by 4 percent in 2025 and 4.1 percent in 2026, supported by policy reforms and improving economic conditions. However, the Fund warned that inflation and rising living costs remain major challenges to inclusive growth.
Recent data from the National Bureau of Statistics showed headline inflation rose to 15.69 percent year-on-year in April 2026, underscoring the continued pressure on household incomes despite signs of economic stabilisation.
According to the IMF, sustaining growth will require policies that not only preserve macroeconomic stability but also improve social outcomes, create jobs and support vulnerable households. The Fund noted that while reform measures are beginning to strengthen confidence in the economy, many Nigerians are yet to feel the full benefits in their daily lives.
The assessment comes as Nigeria continues to implement fiscal, monetary and foreign exchange reforms aimed at boosting investment, strengthening public finances and supporting long-term economic growth. While economic indicators have shown gradual improvement, inflationary pressures and high living costs remain key concerns for households and businesses across the country.






