Segun Adeyemi

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<h2>The Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU) are demanding that Finance Minister Wale Edun release their members' withheld salaries.</h2>

President Bola Tinubu has reportedly approved the payment, yet the funds remain unreleased.

This has prompted the unions to launch an indefinite strike that has <a data-link-role-code="open_new_tab" href="https://www.pulse.ng/news/local/nasu-ssanu-commence-nationwide-strike/e45ehhn">disrupted activities across public universities nationwide.</a>

SSANU President Muhammed Ibrahim, speaking on The Morning Show on Channels Television, highlighted the unions' frustrations, asserting that the delay lies solely with the Ministry of Finance.

"The President has approved; the Ministry of Education has conveyed the approval," Ibrahim stated. "It is within the precinct of the Ministry of Finance. So, the Minister of Finance should just do the needful. That's all."

Both unions argue that <a data-link-role-code="open_new_tab" href="https://www.pulse.ng/news/local/ssanu-to-embark-on-7-day-warning-strike/d92jyxy">despite repeated ultimatums</a>, their demands have been ignored.

On Monday, October 28, union members across all public universities and inter-university centres were directed to convene and embark on a "comprehensive and total strike action," with no allowance for concessions. They have vowed to continue the strike until their salaries are disbursed.

<h3>FG contacts academic unions</h3>

The government contacted the unions informally on Monday, October 28, but Ibrahim expressed scepticism about the potential outcome.

"In terms of reaching out, yes, informally, we have been contacted," he noted. "However, we are not too excited about it because we have had it several times."

Ibrahim stressed that the solution is simple: "There is a very short and fast way to solve this problem. Every process and procedure has been followed. What is remaining is for the payment to be made. Once the payments are made, we will resume back to work."

The unions' position remains firm, with Ibrahim warning that prolonged negotiation without action will not yield results, urging the Ministry of Finance to act swiftly to end the standoff.

Wale Edun, Nigeria's finance minister, during a Bloomberg Television interview on day two of the World Economic Forum (WEF) in Davos, Switzerland. [Getty Images/Bloomberg]

The Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU) are demanding that Finance Minister Wale Edun release their members' withheld salaries.

‘Do the needful’ - SSANU, NASU, tell finance minister amid ongoing strike

<h2>Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has unveiled an ambitious agenda for economic reform to reduce inflation, create jobs, and foster growth in key sectors.</h2>

Speaking at the 30th Nigeria Economic Summit, hosted by the Nigeria Economic Summit Group (NESG) on Tuesday, October 15, Edun emphasised the government's focus on agriculture, manufacturing, oil, and housing as vital drivers of Nigeria's economy.

Edun highlighted the administration's intent to tackle poverty by enhancing agricultural productivity and food security, which is essential to lowering <a data-link-role-code="open_new_tab" href="https://www.pulse.ng/news/nigerias-inflation-hits-327-amid-rising-fuel-costs/9b747cf">the high inflation rate burdening many Nigerians.</a>

"We are looking to food production to help bring down inflation," he explained. "Our aim is to make food more available, affordable, and to reduce the cost of living for Nigerians."

FG, AfDB partnership

President Bola Tinubu and AfDB President, Akinwumi Adesina [Presidency]

He added that to support this effort, the government is partnering with the African Development Bank (AfDB) to establish agricultural processing zones, which will provide a robust supply of raw materials for domestic industries.

The minister also discussed the government's approach to the oil and gas sector, emphasising its critical role in generating foreign exchange.

READ ALSO: <a href="https://www.pulse.ng/news/world-bank-charges-tinubu-to-sustain-ongoing-reforms-despite-hardship/3bevn3x">'No going back' - W'Bank charges Tinubu to sustain ongoing reforms amid hardship</a>

Edun revealed that recent reforms have attracted significant investments, including an additional $10 million from ExxonMobil and other key industry players.

"The oil sector is our first avenue for foreign exchange and global revenue," he stated, expressing optimism about sustained contributions from local and foreign investors alike.

<h3>Reform in manufacturing sector</h3>

Workers sort packs of AfriOne Gravity Z1 smartphones during a launch event at the new AfriOne Ltd. manufacturing plant in Lagos, Nigeria. [Getty Images]

Edun explained that manufacturing is also set to benefit from new tax incentives and cheaper funding. These policies, he said, are designed to cut operational costs and increase job opportunities within the sector.

"We're offering specific incentives, including excise tax and withholding tax reliefs, to stimulate the manufacturing sector," Edun noted.

READ ALSO: <a href="https://www.pulse.ng/news/tinubu-govt-borrowed-dollar645bn-from-world-bank-in-16-months-report/m0xlex3">Report confirms Tinubu govt borrowed $6.45bn from World Bank</a>

These measures, according to him, have encouraged Nigerian manufacturers to commit up to $4.2 billion in investments, boosting the country's economic prospects.

<h3>FG's new mortgage scheme</h3>

Wale Edun also announced a new mortgage scheme for low-cost housing. [Facebook]

The government is also set to address housing affordability, launching a mortgage scheme offering near-single-digit interest rates on loans spanning up to 25 years.

According to Edun, this initiative aims to "spark a construction boom" by increasing access to affordable housing, a critical area for job creation and economic growth.

"In partnership with the private sector, we're delivering mortgages that will support Nigeria's housing and real estate sector," he affirmed.

Edun asserted that this comprehensive plan underscores Nigeria's renewed commitment to economic stability and inclusive growth, with "growth and jobs" as the ultimate objectives for a sustainable future.

Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has unveiled an ambitious agenda for economic reform to reduce inflation, create jobs, and foster growth in key sectors.

Finance minister announces new scheme to control inflation, agricultural boom

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Wale Edun

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