- The Nigerian National Economic Council (NEC) has endorsed a salary cut for all political office bearers. The proposal initiated by the country's president, Umaru Musa Yar'Adua, follows the announcement by the Finance minister last week that the country's economy was in trouble.
President Yar'Adua who had convened all the political appointees late yesterday, told them that the current remunerations for political office holders in the country was untenable and unjustifiable in the present economic circumstances.
The president said the global economic crisis demands that all public office holders show honesty, dedication and commitment to selfless national service in the discharge of their official responsibilities.
He said despite the fresh challenges to national development, thrown up by the current global economic crisis, the country will provide fresh opportunities to ensure that the country's vision is not derailed.
Nigeria's situation has been worsened by the sharp drop in crude oil prices from nearly $150 per barrel in July last year to the current $41, given the country's budget benchmark of a price of $45 per barrel. Oil exports account for 95 per cent of Nigeria's foreign exchange earnings and over 80 per cent of Federal Government's revenue.
President Yar'Adua urged that public office bearers to be prepared to make personal sacrifices for the greater good of the nation, adding that they should come to terms with the realities of the ongoing global recession.
Locals have said the salary cut is a good gesture, but however expressed concerns that few officials depend on their salaries. They said officials are getting their fat cash from the travel allowances, which they recommended that government should reduce, especially international travel.
Last April, the National Assembly approved a new salary structure following the passage of a bill on the Salaries and Allowances of certain political, public and judicial office holders Act 2002 and Other Matters Connected thereto, 2008, signed by the Harmonisation Committee of the Senate and the House of Representatives.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
front page
| news
| countries
| archive
| currencies
| news alerts login
| about afrol News
| contact
| advertise
| español