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Rep Proposes N250,000, N.5m, N1m Salaries For Primary, Secondary, Varsity Teachers

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House of Reps

The Chairman, House Committee on University Education, Abubakar Fulata has proposed N250,000, N.5 million and N1 million as salaries for primary, secondary and university teachers, respectively.

This came as the Minister of Education, Prof. Tahir Mamman lamented that Nigeria’s education system was yet to contribute to the nation’s societal and economic growth despite the fantastic education policies in place.

Both spoke Thursday, in Abuja,at a one Day National Stakeholders Workshop on the Development of a Roadmap for the Nigerian Education Sector (2023-2027),organized by the Federal Ministry of Education.

Fulata insisted that no primary school teacher should earn less than N250, 000, while secondary teacher and lecturers should earn N500, 000 and N1 million respectively, if Nigeria wants to achieve quality education.

He said: “If you want quality education you must pay them to teach your children very well. Teachers must also be encouraged as it is obtained in the other climes.”

Fulata,who also advocated declaration of emergency on education, equally called on the federal government to commit at least 25 percent or 30 percent of the national budget to education.

Hear him: “The nation must declare a state of emergency in education. We must commit at least 25 per cent or 30 per cent of our national budget to education.”

The Minister of Education,Prof. Tahir Mamman, speaking,lamented that the nation’s education system was not connected to its society and economy, saying things cannot go that way.

According to him,his ministry was determined to change the narratives in line with the aspiration of President Bola Tinubu’s Renewed Hope Agenda.

Mamman said: “Our education system is not connected to our society or our economy, we cannot say for certain that we are key contributors either locally or globally to the ideas which push societies forward.”

According to him, the country has fantastic education policies but they fail to solve its problems.

“When we receive briefings from agencies we will see fantastic policies on education but the problem is our people do not see those policies on ground, they are not seeing the problem addressed and no longer seeing the value of sending their children to school,” he said.

Prof Mamman said there was high number of unemployed graduates because the quality of education they are getting does not connect them to the industries.

The minister said industries were complaining that education institutions were churning out graduates that are unemployable.

He explained that the workshop was convened to develop the roadmap and as such be seen as problem solving one, adding that the government has few days to come up with what it will use to reset the education sector from the basic to the tertiary levels.

The minister however, urged the state governments to do their part so as they can address the challenges of the basic education, saying the federal government only has about 120 unity colleges and the majority rest on the states’ shoulders.

Earlier the Minister of State for Education, Dr Yusuf Tanko said the contribution of Stakeholders at the workshop will help in preparing their children for the future and the development of the nation.

He said the recognition of the importance of education is yet to translate to tangible results that show that an educated person stands a better chance of living a fulfilled life.

“This disconnection between purpose and reality could be said to be responsible for inadequate attention to the sector, wrong perceptions of the relative importance of the different forms and types of education,” he said.

“I must also say that the inability of our youths to gain employment after going through the rigors of academia may be responsible for gradually building dis-interest in the pursuit of education,” he said.

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Order CBN to honour Letters of Credit– SINET to Tinubu, NASS

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Amidst several hardships facing the Nigerian populace, the Social Integrity Network, (SINET) has urged President Ahmed Bola Tinubu and the leadership of national assembly to compel the Governor of Central Bank of Nigeria (CBN) Mr. Olayemi Cardoso, to order and reconsider honouring the forward contracts that are genuinely backed up with proper compliant documents for utilisation against each Letters of Credit (LCs) opened by the commercial banks using the forwards as a hedge.

The group also urged the Federal Government to make further clarification concerning a statement credited to the CBN Governor on issues regarding the alleged and well-publicized revelations of a $2.4 billion forex trading fraud.

SINET recalled that “On February 5, 2024, the governor of CBN made this declaration in both his interactions with Senate committees and his interview on a national television, following the engagement of Deloitte Management Consultant to conduct a forensic investigation where he claimed that the said amount was uncovered.

A statement issued on Monday by SINET national coordinator, Ibrahim Issah, disclosed that “On the contrary, we wish to unequivocally state that these claims lack merit and do not take into account the consequences they will have on businesses, public perception, or the economy of our cherished nation and its implication on forex both at home and abroad.”

According to him, “Without sentiment, the claim is completely falsehood and unacceptable as he, the CBN governor, failed to consider its economic implications. It is pertinent to state that genuine businessmen and women across the country, borrowed Funds from commercial banks, some with interest rates as high as 30% to secure forex from the CBN through their respective commercial banks since CBN does not sell the dollars to individuals directly.

“The same funds have been deposited with CBN for the past one and half years for forwards allocated for which the Apex Bank is now claiming were fraudulent transactions. May we remind Mr. Governor that while the CBN allocated the forwards after collecting the naira for each forward allocated, the commercial banks used these same forward contracts as a hedge and issued Letters of Credit (LCs) to their various customers against their offshore credit lines and also as a sovereign guarantee to their offshore banks which stand unpaid till today as a result of the failure of CBN to honour the various forward contracts.

“May we also remind our CBN Governor that as a result of their failure to honour these contracts, the outstanding foreign loans continue to accrue interest (post-negotiation charges), which the commercial Banks are passing to their customers: the same customers you say do not have a genuine claim.”

The statement further stressed that, “The public would like to ask Mr. Governor the following questions: What will happen to the foreign bank that is expecting their payment to be paid back? What will happen to the businessmen and women who had borrowed Naira from commercial Banks and paid the same into the CBN account for the purchase of forex for over eighteen months? Who will bear the interest charged on borrowed funds locally? Who will bear the charges running against the offshore lines used in establishing Letters of Credit? What will happen to the businesses? What will happen to the employees that are dependent on the survival of the businesses that CBN is trying to kill?

“We call upon the senate president and, in fact, the president and Commander In-Chief of the Federal Republic of Nigeria to call the CBN governor to order and reconsider honouring the forward contracts that are genuinely backed up with proper compliant documents for utilisation against each Letters of Credit (LCs) opened by the commercial banks using the forwards as a hedge.

“Let us state categorically that the CBN is killing businesses by cancelling the forward contracts that were sold to them about 18 months ago at the rate of N450/dollar and now selling the same funds to the commercial banks and directing the bank to sell the money at the rate of 1,500/dollar to the same businesses who initially had a forward contract at the rate of N450/dollar.

“May we also remind Mr. Governor, that failure to honour these forward contracts is taking commercial banks longer time to clean the offshore lines already used for establishing Letters of Credit against which shipments have been done and payment made to LC beneficiaries by the offshore banks. The delays of the commercial banks to settle their Forex obligations to their offshore banks is making our country risk to be very high.

“Lastly, the public will like to call on the coordinating minister for the economy, Mr. Wale Edun to engage the CBN regarding this issue of undelivered forward contracts because at present in Nigeria, almost 60% of companies in the manufacturing sector have been closed due to the volatility of Forex in Nigeria in order to avoid the other 40% from also closing down.

“This will go a long way to help the few remaining manufacturing companies still in operation in Nigeria and also encourage the new investors that the president and commander in-chief of the federal republic is trying woo to bring their investments to Nigeria.”

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APC To Yahaya Bello: Stop Confusing The Party, No Vacancy For National Chairman

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Yahaya Bello Kogi state

The leadership of the ruling All Progressives Congress (APC) has told the immediate-past governor of Kogi state, Yahaya Bello that there is no vacancy in the office of the national chairman of the party.

The national publicity secretary of the party, Felix Morka warned the former Kogi governor to stop confusing the party, saying the position of the national chairman is currently occupied.

Morka handed down the warning while addressing newsmen at the national secretariat of the party.

The posters of the former governor were seen on major streets in the Federal Capital Territory (FCT), especially around the federal secretariat and on walls and fences of structures around the APC national secretariat along Blantyre Street, Wuse 2, Abuja.

The bold picture of the former Kogi state governor is adorned with the inscription, “APC Next Level. Alhaji Yahaya Bello as APC National Chairman. Leading the Change, Building a Stronger APC.”

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