Investopedia Celebrates 25 Years, And The Investor Post-Summer Playbook
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Investopedia is celebrating its 25th Anniversary, and we are joining the party with the most important innovations, financial events and terms of the past quarter century. Plus, Jay Woods, the chief global strategist for Freedom Capital Markets, helps us prep our playbooks for the rest of the year as the stock market dances near record highs ahead of interest rate cuts and an election that is bound to deliver volatility. Summer lovin' was a blast, but it's time to reset and get back on track with The Express.
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Nigeria Labour Congress, NLC, Speaks On Fuel Price Increase
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Nigeria Labour Congress, NLC, speaks on fuel price increase
The NLC says President Bola Tinubu The NLC says Mr Tinubu gave it two options during negotiations for the minimum wage.
The Nigeria Labour Congress (NLC) has said it feels betrayed by the federal government following Tuesday’s increase in the pump price of petrol at NNPC Ltd’s fuel stations.
The NLC, in a statement by its president, Joe Ajaero, said, “One of the reasons for accepting N70,000 as national minimum wage was the understanding that the pump price of pms would not be increased even as we knew that N70,000 was not sufficient.”
PREMIUM TIMES reported that NNPC’s petrol stations across Nigeria increased their pump price of petrol from about N600 to about N897.
No official reason for the increase has been given, but the state-owned oil firm recently lamented that it could no longer sustain the petrol price.
NNPC Ltd. is currently the sole importer of petrol into Nigeria and spends billions of naira monthly to subsidise the product.
In his statement, Mr Ajaero said President Bola Tinubu, during negotiations for the minimum wage, had given the NLC two options: “either N250,000 as minimum wage (subject to the rise of pump price between N1,500 and N2,000) and N70,000 (at old pms rate).”
President Tinubu
He said the NLC chose the latter option only for it to be confronted by Tuesday’s increase in petrol price.
“Here we are, barely one month later, with the government yet to commence payment of the new minimum wage, confronted by a reality we cannot explain,” Mr Ajaero added, describing the situation as both “traumatic and nightmarish.”
The NLC president further criticised the government’s approach to resolving the fuel subsidy issue, arguing that the labour movement had foreseen the challenges but was dismissed by officials who accused them of lacking an understanding of basic economics.
He also linked the fuel price increase to what he described as a pattern of betrayal by the government, citing similar unfulfilled promises regarding electricity tariff hikes.
Mr Ajaero condemned the government’s broader economic policies, which he said had led to widespread hardship and triggered protests such as the End-Hunger/End Bad Governance demonstrations.
NLC President, Joe Ajaero
He accused the government of responding to dissent with repression, including arrests and charges of treason against protestors.
“The clandestine increase in the pump price of petrol is the first among equally sinister policies the government has up its sleeve,” he warned, vowing that the NLC would not be intimidated.
The NLC demanded the immediate reversal of the fuel price increase, the release of all those arrested during recent protests, and called on government to put a halt to the indiscriminate detention of citizens.
The NLC also demanded an end to policies that engender hunger and insecurity, electricity tariff hikes, and an end to what it described as the government’s “culture of terror, fear, and lying.”
Osifo Condemns Governor Obaseki For Allegedly Funding Protests Against Oshiomhole
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Osifo Urges Edo Women to Reject Obaseki’s Alleged N50 Million Bribe for Anti-Oshiomhole Protests
Benin City, Edo State — The political landscape in Edo State has taken a dramatic turn as Governor Godwin Obaseki faces sharp criticism for allegedly using N50 million of taxpayers’ money to pay women to protest against former Governor, Comrade Adams Oshiomhole. The protests reportedly stem from Oshiomhole's reaction to comments made by the First Lady of Edo State, Mrs. Betty Obaseki.
Sir Matthew Osifo, a retired Permanent Secretary and Convener of Election Eyewitness Report, has expressed his deep displeasure with Governor Obaseki's actions. Osifo blamed the outgoing governor for failing to instill discipline in his wife, Mrs. Betty Obaseki, whose recent outburst has sparked controversy.
Osifo condemned Governor Obaseki for allegedly spending a substantial amount of public funds on organizing protests against Oshiomhole. He described the governor's actions as a desperate attempt to undermine his political opponents and called for an apology to Senator Monday Okpebholo, Comrade Oshiomhole, and the people of Edo State.
According to Osifo, the First Lady’s remarks have opened the floodgates for a campaign of calumny in Edo State. He noted that the governorship campaign had been progressing peacefully until Mrs. Obaseki’s inflammatory comments disrupted the political atmosphere.
Osifo urged Edo women to reject the alleged bribe and refrain from participating in what he termed a “shameful public spectacle.” He also criticized Mrs. Obaseki for insulting Senator Okpebholo by questioning his marital status—a claim she could not substantiate.
“We know the rumors about Betty and Godwin Obaseki, but we chose not to air them. It's a shameful situation where Governor Obaseki has failed to manage his home properly,” Osifo stated.
He defended Oshiomhole’s response to Mrs. Obaseki’s comments, arguing that the former governor was justified in defending his candidate. Osifo pointed out that those living in glass houses should not throw stones, emphasizing that Mrs. Obaseki’s attack on Okpebholo warranted Oshiomhole’s rebuttal.
Continuing, Osifo remarked on the First Lady’s behavior during the recent PDP campaign for Asue Ighodalo, where she publicly berated Senator Okpebholo. He lamented the lack of decorum, noting that it reflected poorly on the kind of household the Obasekis run.
Osifo also criticized those who suggested that Oshiomhole should have ignored the First Lady because she is a woman. He argued that such comments further demean women by excusing poor conduct based on gender.
He concluded by addressing the claims made against Betty Obaseki, suggesting that she lacks the compassion and enterprise expected of a First Lady. He also referenced past accusations that the Obaseki marriage is a contractual one, further fueling the controversy.
The political tension in Edo State continues to rise as the governorship election approaches, with these recent developments adding another layer of complexity to the already heated campaign season.
The Yobe government donates N30 million to the families of the slain persons in Mafa.
The Yobe State Government has announced that a total of 34 people were killed in Sunday’s Boko Haram attack in Mafa, Tarmuwa Local Government Area.
The 34 victims were buried on Tuesday in Babangida, the headquarters of Tarmuwa local government.
PREMIUM TIMES reported the attack during which the terrorists also burnt several houses and shops.
Hundreds of residents were displaced as a result of the attack.
“The figure is 34 people that were found dead, while five persons sustained injuries,” Dahiru Abdulsalam, Governor Mala Buni’s special adviser on security matters, told the News Agency of Nigeria on Tuesday.
”Four are in critical conditions, while the other, sustained a minor injury and he is in stable condition.”
Mr Abdulsalam suggested that the location of Mafa makes residents there soft targets for the Boko Haram.
”Any information apart from this is just a rumour. Nobody has gone to Mafa yesterday other than the troops, who brought these bodies.
”The insurgents are not confronting the military; they are confronting innocent civilians who are soft targets,” he said.
At the burial, the Yobe State Government announced the donation of N30 million to the families of the victims of the attack.
Idi Gubana, the state’s deputy governor, made the announcement when he led a delegation to burial ceremony.
He condoled with the Emir of Jajere, Buba Mashio, and the people of the area over the dastardly act.
Mr Gubana directed the State Emergency Management Agency (SEMA) to provide shelter and food items to the displaced persons who lost all their belongings as a result of the attack.
He stated that Governor Buni, who was utterly devastated by the killings, had visited the Chief of Defence Staff, Christopher Musa, over sustainable security in Mafa.
The deputy governor noted that deployment of sufficient troops in Mafa – located at the border of Borno and Yobe – would prevent future attacks in the trade hub.
He prayed Allah to repose the souls of the deceased and grant their immediate families the fortitude to bear the loss.
Tinubu reacts
President Bola Tinubu commiserated with the government and the people of Yobe over the attack.
In a statement by his spokesperson, Ajuri Ngelale, the president also extended his condolences to bereaved families.
He described the killings as “an atrocious and cowardly act of terror by a degraded group of criminals,” Mr Ngelale wrote.
“The president prays for the repose of the souls of the deceased, speedy recovery for the wounded, and assures the people of Yobe State that the perpetrators of this sinister act will have an inevitable encounter with justice.”
Pastor Korede Komaiya’s Dance Video Takes Over Social Media Ahead Of His Birthday Celebration
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Pastor Korede Komaiya’s Dance Video Goes Viral Hours Before His Birthday
Pastor Korede Komaiya, the charismatic leader known for his energetic sermons, has taken social media by storm with a video of him dancing just hours before his birthday. The video, which captures Pastor Komaiya joyfully celebrating, quickly went viral, spreading across all major social media platforms.
In the video, Pastor Komaiya is seen dancing with enthusiasm, clearly excited about his upcoming birthday. The clip has garnered widespread attention, with many fans and followers expressing their admiration for his infectious energy and positive spirit.
*Watch Video*
As the video continues to trend, it’s clear that Pastor Komaiya’s joyful celebration has resonated with people across the globe. With his birthday just around the corner, the pastor’s dance has set the tone for what promises to be a joyous occasion.
Social media users are eagerly sharing the video, making it one of the top trending topics of the day. As the birthday celebrations approach, all eyes remain on Pastor Komaiya and the continued spread of his joyful message.
“You’re The Future, Stay Away From Internet Crimes,” EFCC Chairman Olukoyede Urges Youths
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The Executive Chairman of the Economic and Financial Crime Commission, EFCC, Mr. Ola Olukoyede, has charged youths across the country to stay away from internet crimes and thread the paths of integrity, transparency, and accountability for the sake of their future and progress of the nation.
Olukoyede gave the charge at a recent event in the Federal Capital Territory, Abuja.
According to him, “Corruption is not just someone else’s problem, it is yours, mine, and ours. It is all about unfair advantages, the bribes the lies and the cheating. It is also the silent bystander, the ignored warning sign, and the compromised value.
You have a choice: to accept the status-quo or challenge it; to be part of the problem or part of the solution. You are the future, and the future is now. Let’s create a Nigerian society of integrity, transparency, and accountability that we can be proud of.”