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Nigeria Monthly Minimum wage now set at $98 (30,000 Naira) by President Buhari.

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Nigeria President Muhammadu Buhari on Tuesday signed an agreement with organized labour raising the minimum wage in Africa’s most populous nation.

The new figure of 30,000 naira is almost double the now former figure of 18,000 naira. The agreement helped avert a planned nationwide strike by labour.

Nigerian Labour Congress (NLC) General Secretary Peter Ozo-Eson confirmed earlier on Tuesday that the strike was cancelled after government accepted to raise the minimum wage.



A committee set up with the government in November 2017 recommended the 30,000 naira new monthly minimum wage, after a series of meetings. Government was represented by Labour Minister Chris Ngige in the meetings.

The figure was subsequently recommended to President Muhammadu Buhari and has now been approved. Monthly minimum wage is “the lowest wage that an employer is allowed to pay; determined by contract or by law.”

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Our plan is to transmit an Executive Bill to the National Assembly for passage within the shortest possible time,” Buhari said after receiving a report from the government committee.

Nigeria’s main unions launched a strike in September after the wage talks broke down. Unions initially wanted the monthly minimum wage raised to about 50,000 naira ($164). But the government, which is facing dwindling revenues due to lower oil prices, declined the proposal.

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Unions later suspended strikes on their fourth day, saying the government had agreed to hold talks to discuss raising the minimum wage.

Buhari had vowed to review the wage due to a fuel price hike and currency devaluation in the last two years aimed at countering the effects of a global oil price plunge that hit the country hard. Nigeria is Africa’s biggest crude producer.

Buhari plans to stand for a second term at an election next February and his economic record will come under scrutiny, given previous pledges to raise living standards, tackle corruption and improve security.

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Import route block throws Ethiopia into fuel scarcity.

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The Ethiopian capital Addis Ababa has been hit by a severe fuel shortage as at Tuesday (January 15), multiple local media outlets have reported.

Unusually long queues have been formed outside fuel stations that have supplies with many motorists waiting for hours to buy fuel. Government has yet to respond to the development.



The shortage is largely blamed on a current blockage on the road that links Ethiopia and Djibouti. Ethiopia, a regional economic giant imports most of its supplies through the Djiboutian ports.

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The blockage is staged by young people in the Afar region who are protesting against violent incidents reportedly perpetrated by an ethnic group of Somali extraction.

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The blockage was specifically in the cities of Semera and Awash with pictures showing people sitting right in the middle of the road with loaded trucks parked on either side.

A local portal said protesters were unhappy about a move that saw the federal government withdraw the region’s special forces from areas where the violence happened.

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South Africa Stands 77th in global economic freedom index.

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South Africa has been ranked 77th out of 100 world countries in economic freedom by the Heritage Foundation.



In terms of economic freedom, the Heritage Foundation indicates that with a world rank of 77/180, South Africa is 4th in the African region. The country’s over-all economic freedom score improved with 0.7 in 2017.

General Manager for Research for Brand South Africa, Dr Petrus de Kock, said the index provides some insight into dimensions of the South African economic environment as the country continues to grapple with historical challenges, and the need to spur on entrepreneurship and innovation.

“Notable improvements for South Africa in 2018 include the improvement in the area of investment freedom, and judicial effectiveness. The latter is significant coming in a year where the administration of President Ramaphosa made investment a key focal area of its work,” said de Kock.

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South Africa’s improvement in the rankings comes as a result of advancements in the areas of property rights which is up from 67.6 in 2017 to 67.7 for 2018; judicial effectiveness increased from 59.7 in 2017 to 65.9; fiscal health sees an improvement of +4.6 from 70.7 in 2017; business freedom advanced by +3.1 points from 62.0 in 2017; labour freedom improved by +1.2 in 2018 from 58.9 in 2017; and investment freedom significantly improved by +10.0 from 40.0 in 2017. Notable is South Africa ranks higher than two European nations, being – Italy (79/180), and Greece (115/180).

On the global front based on the measurements of this index, the Heritage Foundation finds that the global average economic freedom score is 61.1, the highest score since inception of the index 24 years ago.

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At an aggregate level, of the 180 economies measured by the index in 2018 – 102 scored better, while the economic freedom scores of 75 got worse. In the case of South Africa it can be noted that the country is one of the 102 that improved its economic freedom score.

Released on an annual basis by the Heritage Foundation, the Index of Economic Freedom provides insight into the extent to which governments enable an open and unrestricted economic environment for citizens and businesses to operate in.

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