HOT NEWS in Nigeria Tonight, May 15, 2024

Atiku Criticizes Tinubu Govt’s Plan to Utilize Pension Funds for Infrastructure Projects
Former Vice President Atiku Abubakar has strongly opposed the Federal Government’s proposal to unlock N20 trillion from the nation’s pension funds and other sources for critical infrastructure projects....CONTINUE READING THE ARTICLE FROM THE SOURCE

Atiku was reacting to recent remarks made by Finance Minister and Coordinating Minister of the Economy, Wale Edun, after a Federal Executive Council (FEC) meeting.

Edun had said the Bola Tinubu-led government would unlock N20 trillion from the nation’s pension funds and other funds to finance critical infrastructure projects nationwide.

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According to Atiku, the lack of transparency surrounding the initiative is alarming, adding that specific details regarding the utilization of pension funds, such as the percentage to be withdrawn, should have been disclosed.

Don’t Derail Our Plan for Power Sector, FG Tells Labour

In the wake of ongoing protests against the electricity tariff increase, the Federal Government has pleaded with labour unions not to disrupt its plans to reform the sector.

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The call comes amidst growing tensions between the government and labour unions over recent increases in electricity tariffs.

The Nigeria Labour Congress and Trade Union Congress had picketed offices of the National Electricity Regulatory Commission and Distribution Companies nationwide over the hike in electricity tariff.

The Minister of Power, Adebayo Adelabu, while addressing State House correspondents after the Federal Executive Council meeting on Tuesday said that the labour unions have the right to protest while urging them to engage in a peaceful protest.

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Senate Approves $500M Loan for Metering Nigerians

The Senate has just approved a $500 million loan request by the Federal Government.

The money will be used by the Bureau of Public Enterprises for “metering Nigerians” for the supply of electricity to their homes.

According to the Ministry of Power, over 92 million Nigerians have yet to be metered.