Tag Archives: Raise

World Celebrities Stand For Syria, Campaign To Raise Relief Fund

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Many world celebrities have stood up in unison to not just raise awareness regarding events unfolding in Syria, but to also raise fund for children who are unfortunately the most affected in the troubled region.

 Most of the celebrities are campaigning on their social media platform and pleading for assistance for the embattled kids in Syria. Below are some of their instagram posts soliciting for support and prayer for Syria.

https://www.instagram.com/p/BOB_mEChYEb/?taken-by=isthatjessiej

https://www.instagram.com/p/BOC-LqXhrnK/?taken-by=tarajiphenson

 

https://www.instagram.com/p/BOEJ_kXDNQN/?taken-by=mstinalawson

https://www.instagram.com/p/BODekRQAp1P/?taken-by=michellewilliams

https://www.instagram.com/p/BOC7t22BawX/?taken-by=khloekardashian

 

No Plan To Raise Electricity Tariffs- Discos

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Dousing mounting concerns over another hike in electricity tariffs, the Association of Nigerian Electricity Distributors (ANED) Wednesday said it had no plan to increase the current tariffs being paid by consumers.

ANED’s Executive Director, Research and Advocacy, Mr. Sunday Oduntan, disclosed this in a telephone interview with the News Agency of Nigeria (NAN) in Lagos.

He said the electricity distribution companies (Discos) had not submitted any proposal to the Nigerian Electricity Regulatory Commission (NERC) on a tariff increase.

“It is not true that we want to the increase tariff by 200 per cent because we do not have any right to do so.

“When you talk about tariff review or increase, it is the responsibility of a regulator and that work belongs to NERC.

“We should understand how the system works because it is the work of the regulator to decide whether there should be tariff review or not and not Discos,” said the ANED official.

He urged the National Assembly to reconsider the stoppage of the bond provided by government to address the liquidity challenge bedeviling the power sector.

“We are not asking for subsidy but that government should step in and provide a bond,” he said.

Oduntan said that the business of electricity distribution was currently not bankable because no bank would lend the Discos money with the huge deficits on their books.

Read More: thisdaylive

Nigeria To Raise N129b In T-Bills December 2

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There were indications that Nigeria would raise N129.17 billion ($649.10 million) worth of local currency denominated Treasury Bills (T-Bills), with varying maturities of three months and one year on December 2.

The debt instrument, according to Central Bank of Nigeria, will be made up of N17.85 billion for the three-month paper; N18 billion in the six-month paper; and N93.32 billion in the one year bill, through the Dutch Auction System.

Meanwhile, yields on Nigeria’s bonds fell below 10 per cent across maturities on Wednesday’s trading session, a day after the apex bank announced a surprise interest rate cut aimed at stimulating lending.

Traders said they are expecting lower returns on the short-date paper at the auction next week in tandem with the prevailing trend in the secondary market. The naira and bond yields fell sharply on Wednesday while stocks rose.

CBN had cut benchmark interest rate to 11 per cent from 13 per cent, its first reduction in the cost of borrowing in more than six years, amid hard hit condition by a plunge in crude prices.

“On the back of the reduction in policy rates … investors are reconsidering investment in the equities market to earn higher return. We anticipate further moderation in bond yields,” the Head of Research at Afrinvest Securities Limited, Ayodeji Ebo, said.

Credit: Guardian

N50,000 Minimum Wage Per Month? NLC Requests For Raise

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Mr Jerry Nnubia, the Chairman of the Nigeria Labour Congress (NLC) in Anambra , says that the current minimum wage being earned by workers should be increased to N50,000 monthly from its present N18,000.

Nnubia told the News Agency of Nigeria (NAN) on Tuesday in Awka, capital of Anambra, that the increment became imperative following the “harsh” economic realities in the country.

Nnubia said that the minimum wage was long overdue for an upward review.

“At the time we negotiated for a minimum wage of N18, 000, a dollar was exchanging for N140, but a dollar exchanges for between N220 and N240 now.

“The cost of living; accommodation, transportation and food items has also gone high, making it difficult for salary earners to take care of their basic needs,” he said.

Read More: nannewsnigeria