Organised Private Sector rejects federal government's proposed pension contribution hike
via Punch Nigeria12 min read
The Organised Private Sector of Nigeria OPSN has voiced strong opposition to the National Pension Commission's proposed increase in mandatory pension contributions and the introduction of an additional three percent mandatory annual contribution. The OPSN, which includes the Manufacturers Association of Nigeria, the National Association of Chambers of Commerce, Industry, Mines and Agriculture, and the Nigeria Employers’ Consultative Association, among others, described the proposal as premature and counterproductive. They argue that while the intent may be to improve retirement benefits, the current economic conditions could make it a "Greek gift" that threatens employment, wage growth, business sustainability, and escalates compliance risks. The OPSN highlighted that Nigeria's current minimum pension contribution of 18 percent is comparable to the OECD average and should not be considered inadequate without specific actuarial evidence. They emphasized that any increase must be supported by credible assessments and emerge from genuine social dialogue, warning that imposing additional statutory payroll costs without a comprehensive impact assessment would further pressure struggling businesses, potentially leading to slower recruitment, reduced staff, and higher prices for consumers. The OPSN urged the Federal Government and PenCom to prioritize macroeconomic stability, enterprise sustainability, and job preservation, advising against policies that erode purchasing power and c
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Kano residents and opposition figures have criticized Governor Abba Kabir Yusuf's decision to allocate 1,540 plots of land and N100 million to leaders of the All Progressives Congress Polling Units Association. Residents expressed disappointment, citing widespread poverty and inadequate public facilities, arguing that state resources should benefit all citizens regardless of political affiliation. Ado Bala questioned the fairness of distributing land only to APC supporters, stating that land is held in trust for all residents. Another resident, Shehu, called the action a clear demonstration of favoritism and a potential case of vote-buying ahead of the 2027 general elections. Aisha Hassan urged Governor Yusuf to extend similar gestures to all residents to avoid criticism. Alhaji Musa Ungoggo, state chairman of the African Democratic Congress, alleged the move was a bribe to rig the upcoming elections, suggesting the funds should have been used to address critical issues like overcrowded primary schools and undredged dams. The state chairman of the People’s Democratic Party, Alhaji Yusuf Ado Kibiya, declined to comment, stating he needed to verify the facts as he had been out of the state.
Niger State Governor Mohammed Bago's solar energy initiative has been lauded by stakeholders for its potential to transform the state into a leading industrial destination and improve electricity supply. The project, which includes a 100-megawatt solar power plant, aims to provide an alternative electricity source for residents and industries, thereby boosting internally generated revenue and attracting investors. The Minister of Power, Joseph Tegbe, commended Governor Bago's "industrial statesmanship" for allocating 500 hectares of land for the project, foreseeing significant economic development and investment. The governor emphasized that the initiative leverages the state's gas resources and vast land, in addition to its four hydropower dams. The Federal Executive Council has approved a $160 million financing package for the Niger State Solar Energy Development Project, comprising a $150 million facility from the Islamic Development Bank and $10 million from the Niger State Government. This project is expected to expand electricity access, particularly in rural communities, and support Nigeria's renewable energy drive. The Niger State Government has already deployed solar mini-grids and other renewable energy solutions, providing 24-hour solar power to over 180 communities that previously lacked consistent electricity. Key public institutions have also transitioned to independent solar systems. The Abuja Steel Mills Limited, a subsidiary of the African Industries Group, i
Must ReadThe Nigerian House of Representatives on Thursday approved a Constitution Alteration Bill to establish State Police across Nigeria. The bill, transmitted by President Bola Tinubu, aims to decentralize policing and enhance security. Deputy Speaker Benjamin Kalu, Chairman of the House Committee on Constitution Review, presented the report, highlighting the proposal as a significant constitutional reform to bring policing closer to the people, improve intelligence gathering, and strengthen community policing. However, the approval was met with a walkout by members of the minority caucus, who protested the voting procedure. The Speaker, Tajudeen Abbas, put the bill to a voice vote without a clause-by-clause consideration, which is customary for constitutional amendment bills. Minority Leader Frederick Agbedi and minority caucus spokesman Afam Ogene argued that the process breached parliamentary procedure and constitutional requirements, despite their support for the principle of state police. They raised concerns about the method used to determine the number of members present and the lack of opportunity to scrutinize individual clauses or move amendments. The minority caucus also highlighted financial concerns, recommending that 15 percent of the Federation Account allocation to the Federal Government be transferred to states to fund policing responsibilities. They urged the Speaker to recommit the bill for further technical review involving various stakeholders to address const