Business

Senate To Pass A Law Prohibiting Contract Staffing In Nigeria

The Nigeran Senate is putting final touches to a bill which will abolish contract staffing in Nigeria. The casualization of employment in the private and public sector in Nigeria has become a norm in Nigeria and has become a tool for the exploitations of Nigeran youths. Contract employees are typically employed on a non-permanent basis without benefits such as health insurance, paid leave, and other compensation enjoyed by full-time employees.

The bill which was sponsored by Senator Ayo Akinyelure (Ondo Central – PDP), was first read in March 2020 and was then referred to the Committee on Employment, Labor and Productivity, with a mandate to report back within four weeks. The bill passed second reading in the Senate on Thursday, February 18, 2021.

Senator Akinyelure said:

“Workers no longer have regularized employment terms; therefore, Nigerian graduates are treated like second-class citizens in their own country, while foreigners from underdeveloped countries from Asia like India, Pakistan, Lebanon, etc, with less qualifications to Nigerian graduates are placed as managers above Nigerian graduates,”

Senator Smart Adeyemi (Kogi West – APC) said:

“It is just inexplicable to have some of our citizens being captured under this devilish and wicked system of employment, and you see them working for years without any future for them.

“This casualization is just a system of keeping some people as slaves. Let this bill be supported and let us pass it into law and stop the enslavement of our younger generation,”

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Senator Uche Ekwunife (Anambra Central – PDP) said casualization of employment has diminished the standard of service in the country’s workforce. She said there must be a legal process for employing people in public and private establishments to prevent the abuse of dignity of Nigerians.

A few senators sounded a note of caution about the legislation, Senator Tokunbo Abiru (Lagos East – APC) said employers in the private sector seek efficiency in business especially since they already have to provide for a lot of structure meant to be shouldered by the government.

He said the issue around contract servicing is already well-defined in the private sector, and that the bill could have terrible consequences for Nigerian workers and the unemployed.

“If we go this route, part of what we’ll find is we’ll increase the unemployment rate because what the private sector will do is the normal job for a man today can be increased for three or four people,”

The bill was unanimously passed for a second reading when Senate President, Ahmad Lawan (Yobe North – APC), put it up to a voice vote.

Business

Banks begin charging ₦6 per SMS for transaction alerts

Starting today, May 1, 2025, Nigerian banks will begin charging N6 for every SMS transaction alert, citing the recent hike in telecommunications service rates as the cause of the increase.

The new charge marks a 50% rise from the previous N4 per message, sparking concern among customers already grappling with inflation and rising living costs.

According to a report by Vanguard, the hike in SMS alert fees follows a green light from the Federal Government that allowed telecom providers to raise their tariff. Banks, in turn, are adjusting their service charges to reflect the change, despite the potential burden on users.

In an email sent to its customers, Guaranty Trust Bank (GTBank) wrote:

“Dear Valued Customer, please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message. This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers.”

The bank emphasized the importance of SMS alerts in helping customers monitor account activity and prevent fraud, while also offering an opt-out option for those who prefer not to receive alerts via SMS. Customers are advised to update their preferences on the bank’s website. GTBank also noted that SMS alerts sent to international numbers would attract higher fees.

While some customers may consider switching to email or app notifications, the added cost to essential services has reignited conversations around the affordability and transparency of banking in Nigeria.

Business

Retail Fuel price drops nationwide At MRS Stations

MRS Oil Nigeria Plc has announced a reduction in the retail price of Premium Motor Spirit (PMS), commonly known as petrol, across its stations nationwide.
The oil marketing firm disclosed on Monday, February 10, through its official X (formerly Twitter) account, that its stations in Lagos will now sell petrol at ₦925 per liter.

The move follows a similar price adjustment by its partner, Dangote Refinery, which recently lowered the ex-depot price to ₦890 per liter.

Beyond Lagos, MRS outlined region-specific pricing, with petrol selling at ₦935 per liter in the South West, ₦945 in the North, and ₦955 in the East.

The company assured consumers that the reduction would not compromise fuel quality.

“The prices may vary, but one thing stays the same—we give you high-quality fuel that keeps your engine running at its best,” the statement read.

MRS also urged customers to remain vigilant and report any stations selling above the new price.

“We are just a call or email away. Let us know if you notice any discrepancies,” the company added.

The price cut is expected to relieve motorists and businesses struggling with high fuel costs.

However, industry analysts say sustained reductions will depend on global crude prices and domestic refining capacity.

Business

Dominion City’s David Ogbueli Sets Up 1 Billion Naira Entrepreneurship Support Fund

Dominion City at its recently concluded 2025 Lagos Executive Leadership Retreat for Entrepreneurs & Career Professionals has set aside N1 billion to empower entrepreneurs. President of Dominion City Global, Dr. David Ogbueli made this public at the church’s Lagos headquarters.

The five-day retreat was geared towards equipping participants with the tools and mindset to improve their economic standing through wealth creation and innovation. At the retreat, participants—both onsite and online—numbering more than 1,000 were trained and fully exposed to addressing food security via pastoral farming, shifting agriculture, subsistence farming, and commercial agriculture; economic empowerment, discipleship, and spiritual growth; job creation; global migration and expansion; resource mobilization for business funding; and healthcare, among other topics.

The President of Dominion City Global, Dr. Ogbueli, who proposed a N1 billion support fund for entrepreneurs, stated that one of the goals of the empowerment retreat is to equip congregants with the skills, resources, and support necessary to succeed in business and their careers, thereby preparing them to further empower their immediate communities.

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He emphasized the potential for exponential growth in businesses, calling for participants to achieve a 10-fold progression while advancing God’s kingdom. According to him, Dominion City is empowering God’s children to be problem-solvers and solution-givers, enabling them to turn societal problems into opportunities. Dr. Ogbueli also urged the church to embrace God’s principles and consistently provide solutions to societal problems to prosper.

“You have to give God something to work with. God’s blessings has to rest on something. You plant the seed, and God sends the rain, which brings the harvest. You are not going to prosper if you cannot find solutions to people’s problems. It is your information that will plant the seed. No amount of prophecy will guarantee the outcome if you don’t add your part to it. No matter what is prophesied to you, your choices determine the outcome,” he advised.

Meanwhile, Dr. Ogbueli called on churches to actively engage in structural economic development by empowering their members through entrepreneurship, ultimately contributing to the prosperity and well-being of society.

Some professionals addressed salient topics affecting the congregants and the nation’s economy, including Dr. Austine Maduka: “Kingdom Wealth Using Agriculture”; Mark Osang: “Discipleship and Spiritual Growth”; Alioha-Emmanuel Ihechi: “Cassava Farming and Processing”; Chidinma Okebalaman: “Global Migration/Positioning/Expansion”; and Dr. Jackie Ikeotuonye, CEO of BFA Integrative Health & Wellness Clinic: “Health and Cure.”

Others included Uzoma Ayodeji: “Attracting Grants for Social Enterprises: Practical Steps for Success”; John David: “Strategic Creativity: Organic Innovation for Accelerated Productivity in Business and Career Optimization”; and various other topics such as “Epidemiology and Control of Lassa Fever” and “Seeing and Owning the Future: The Future of Work.”

It will be recalled that Dr. David Ogbueli in December 2024 at his Abuja Headquarters personally disbursed N100,000 to over 100 church members while providing hundreds more with substantial cash gifts and food items.