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NLC Vows to Resist Move to Decentralise Minimum Wage

The Business NG

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The BusinessNG

The Nigeria Labour Congress (NLC) has declared its readiness to resist any move by the National Assembly to transfer labour matters, including the national minimum wage, from the exclusive legislative list to the concurrent list - a move that would allow individual states to set their own wage structures.

NLC President, Joe Ajaero, made the declaration on Friday during a meeting of the National Administrative Council (NAC) of the Central Working Committee held in Abeokuta, Ogun State.

Describing the proposed legislative amendment as “an exercise in futility,” Ajaero warned that labour would not sit back and watch the national minimum wage structure dismantled. He argued that such decentralisation runs counter to global best practices and violates International Labour Organisation (ILO) conventions, which recognise minimum wage as a national policy responsibility.

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The Business NG

MPC Meeting: All Eyes on CBN as Analysts Predict Fresh Rate Cut

As Nigeria's Monetary Policy Committee (MPC) prepares to meet on November 24-25, analysts across the financial sector are forecasting another policy rate cut, citing easing inflation, stronger macroeconomic fundamentals, and improved foreign exchange stability. The meeting comes just weeks after the Central Bank of Nigeria (CBN) cut the Monetary Policy Rate (MPR) by 50 basis points to 27%, marking the first rate reduction in nearly ten consecutive policy meetings under Governor Olayemi Cardoso. Stakeholders say this week's meeting will be a decisive test of the CBN's confidence in Nigeria's emerging disinflation trend. Inflation eased to 16.05% in October—down from 18.02% in September—following the CPI rebasing exercise and improvements in food supply, FX liquidity, and general price stability.

time to read

1 min

The BusinessNG

The Business NG

More Nigerians Seek Schooling Abroad as Education Crisis Triggers $1.39bn Outflow

Nigeria’s persistent crisis in the education sector has continued to fuel a massive exodus of students to foreign institutions, with new data show-

time to read

1 min

The BusinessNG

The Business NG

2026 Tax Reform Triggers Concerns Over Data Privacy, Income Monitoring

Nigeria's new tax framework, set to take effect in January 2026, is stirring debate over the government's ability to access citizens' personal financial data, particularly for remote workers and Nigerians with foreign assets.

time to read

1 min

The BusinessNG

The Business NG

Nigeria Launches 2025 Oil and Gas Licensing Round on Dec 1

Nigeria is set to launch its 2025 oil and gas licensing round on December 1, as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) moves to revive the country's production capacity and attract fresh global investment.

time to read

1 min

The BusinessNG

The Business NG

Investors Scramble for N1.23tn T-Bills as Market Signals Yield Peak

Nigeria's Treasury Bills market continued its bullish momentum at the November 19, 2025 auction, with investors submitting an overwhelming N1.23 trillion in bids for the 364-day tenornearly triple the Central Bank of Nigeria's (CBN) N450 billion offer. The aggressive demand signals a clear race by investors to lock in high yields before the expected monetary policy easing cycle begins in 2026.

time to read

1 min

The BusinessNG

The Business NG

Court Sentences Nnamdi Kanu to Life Imprisonment for Terrorism

Leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, has been sentenced to life imprisonment by a Federal High Court in Abuja after being convicted on all seven terrorism charges filed against him by the Federal Government.

time to read

1 min

The BusinessNG

The Business NG

Panic Selloffs, FX Fears Hammer Banking Stocks, ASI Down 3.5%

Nigeria's equities market remained under severe pressure through November 2025, with the All-Share Index (ASI) declining steadily on the back of heavy selloffs in banking stocks.

time to read

1 min

The BusinessNG

The Business NG

GDP Debate: Analysts Split on Nigeria's Q3 Performance

As Nigeria prepares to release its Q3 2025 GDP report, analysts remain divided on how the economy performed. Some expect a modest expansion of 3.6%-3.9%, while others forecast a stronger 4.5% growth, building on the 4.23% recorded in Q2.

time to read

1 min

The BusinessNG

The Business NG

Nigerians Still Feeling Price Pressures Despite Falling Inflation

Despite Nigeria's headline inflation rate falling to 16.05 per cent in October, the cost of living for ordinary households remains steep, the Centre for the Promotion of Private Enterprise (CPPE) has warned.

time to read

1 min

The BusinessNG

The Business NG

PDP Crisis Boils Over in Abuja

•Wike Allies Sacked Makinde, Bala Over 'Anti-Party

time to read

1 min

The BusinessNG

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