#minimum wage implementation banking sector

[townpostin]

Bank Employees' Union Mulls Nationwide Strike in Jamshedpur Conclave

AIUBEA Meets in Jamshedpur to Address Worker Concerns Union Bank staff representatives gather to discuss employee shortage, wage issues, and potential industrial action. JAMSHEDPUR – All India Union Bank Employees Association convenes central executive meeting to address pressing workforce challenges. The All India Union Bank Employees Association (AIUBEA) has initiated a crucial two-day meeting…

[hastill]

hi friends! It's Tumblr's Canadian politics time

In case you aren't sure about why Pierre Poilievre is getting so much hate, here are some reasons!

𝗩𝗼𝘁𝗲𝗱 𝗔𝗴𝗮𝗶𝗻𝘀𝘁:

● support for Ukraine

● workers rights

● paid sick leave for federally funded entities

● repeal of Harper-era rules that made union certification harder

● raising the minimum wage

● $10 a day childcare

● housing initiatives

● the child tax benefit

● dental care for kids

● women's right to have control of their bodies

● enforced equal pay for equal work in federally regulated sectors

● middle class tax cuts

● increased support for seniors

● proposed universal pharmacare and dental care for low-income workers

● expanded pandemic relief for workers

Poilievre 𝗩𝗼𝘁𝗲𝗱 𝗙𝗼𝗿:

● cancelling the Veterans Disability fund

● raising the retirement age

● prioritized worker pensions during corporate bankruptcies.

● 𝒔𝒍𝒂𝒔𝒉𝒊𝒏𝒈 𝑶𝑨𝑺 (old age security i.e. benefits) & 𝑪𝑷𝑷 (Canadian pension plan)

● cancelling school lunch programs for children from low income families

𝗛𝗲:

● has been sucking on the public teat his entire adult life

● has a government funded pension worth $3.5M as of today

● refuses to submit an application for security clearance

● has instructed his MPs to stay silent on LGBTQ+ issues (which is fucking wild cause his deputy party leader is a lesbian, wtf are you thinking Melissa Lantsman??)

● is a climate change denier

● has vowed to "wield the notwithstanding clause", thereby taking away our charter rights

● shamelessly lies and misinforms

● has publicly stated that he would not support Pharma care and Dental care, thereby enriching insurance companies

● supplied coffee and donuts to the Trucker Convoy who were funded by MAGA and Russia

● advocated to replace Canadian money with Bitcoin, (unregulated, no intrinsic value)

● tried to scapegoat Trudeau for causing inflation, while inflation was global and Canada had one of the lowest rates in the world

● scapegoated Trudeau for causing the interest rate hikes, while Trudeau has zero power or influence over the Bank of Canada

● consistently demeans journalists who ask salient questions but will happily give interviews to extreme right fruitcakes like Jordan Peterson

● clearly stated that he intends to implement massive austerity cuts and measures on pretty much all federal government entities

● has stated that he will defund the CBC

● he has stated he only believes in two genders

● said that thing about women's biological clock running out before they can buy a home and thus have children (reads as he only sees women as baby makers)

please share this around, we do not want Poilievre running our country,, especially not right now. and while our federal election DOES NOT work like the US presidential election—WE DO NOT VOTE FOR WHO WE WANT TO BE PM—you still have to consider that voting for a conservative MP in your riding will have an effect on who gets to be PM (the first past the post system is so fucking stupid)

[benspannenberg]

Where do building price rises stand for 2025?

How does that effect the cost of your renovation? how can Spannenberg and Son give you some assurances that your build will not blow out in cost?

Typically we have price rises on July 1 every year and we do expect this to occur in 2025 as it does every year, on July 1 almost all government bodies will implement a price rise and an example of this may be an environment levy increase, this puts up tipping prices another example may be council DA charges and levy increases.

So what else is pushing up prices?

Government industrial relations policy changes only recently introduced on small business contractors have put pressure on the transport industry, so transport prices have gone up. Then we have the green movement which has restricted gas supply, gas is used to manufacture a significant amount of building materials like insulation, glass, bricks etc. We know about electricity increases, businesses have to pass this on. Australians are choosing to save the planet and send manufacture and transport costs up and overseas then we are choosing higher prices.

In a snapshot here are the price rises commencing 2025 -

-Bag or concrete - 20 cents for bag

-Fuller adhesives - 4.5%

-Ply - 5-10%

-LVL's - 6%

-CSR fibre cement - 5%

-Wet concrete $8 per cubic metre

-Colourbond steel 5%

-Blocks/pavers - 6%

-Gyprock - 7.5%

-Insulation - 4.75%

Adbri Masonry - 6-10%

What is happening with wages? Some of the heat and demand has come out of the market, which has over the last few years contributed to wage increases, the top end of the market in the multi million dollar home sector is still busy but the rest of the market has cooled slightly which has helped to settle prices, the last of the superannuation increase occurs on July 1 at an additional 0.5% to bring it up to 12%, the government will increase the minimum wage on July 1 as it always does.

How does this effect the cost of your renovation?

Once you have signed a fixed price contract with your builder he cannot pass these increases on and must wear these increases, alternatively you can sign a cost plus contract with your builder and he can pass these costs on throughout the build, with a fixed price contract do expect the builder to need to load some of this risk factor into the price.

Australians are known to take a gamble, an example of this is that most Australians have variable interest rate home loans at a lower amount compared to the overseas market where they are fixed but at a higher rate, its all about who is bearing the risk, some Australians will fix their rates and try and beat the banks, this is an example of how some clients will have differing tolerances for risk, hence some will wish for a fixed price build contract or others may go for a cost plus contract with their builder.

How can your builder give you assurance that your price will not blow out? what it the key?

Right at the start a design that suits your scope and has been accurately priced and selecting a builder who is professional and has a solid track record.

Speak to Spannenberg and Son about our service and process today to find out how you can save money and gain assurance that your build cost will not blow out.

[tjnewsnigeria]

In a significant move aimed at enhancing youth employment opportunities, President Bola Tinubu’s administration has officially lifted the long-standing ban on National Youth Service Corps (NYSC) members being posted to private sector organizations. This new directive, which will take effect from the 2024 Batch ‘C’ Orientation, allows corps members to serve in various private companies, including banks, oil and gas firms, and other key industries. The announcement was made by the Minister for Youth Development, Ayodele Olawande, in a memo dated November 18, 2024, and made available to the public on November 19. How To Fix “No Record Found” On NYSC Senate List How To Change Your NYSC PPA – 5 Easy-to-Follow Guide   Olawande stated that this policy change aligns with President Tinubu’s broader strategy to tackle Nigeria’s rising youth unemployment rate by offering corps members a chance to gain valuable experience in their fields of study. Policy Change Boosts Youth Employment Prospects According to the minister, the new policy is set to begin with the 2024 Batch ‘C’ Orientation, and the first phase will apply to Abuja and Lagos. The policy will allow corps members to be posted to various private sector organizations, including prominent banks and oil and gas companies. In his memo, Olawande emphasized that this policy shift is a critical step toward addressing Nigeria's youth unemployment crisis. He pointed out that the previous restriction, which limited corps members to the public sector, had hindered them from acquiring the necessary experience in industries directly related to their academic backgrounds. "The need to review this policy has become urgent, as it expands opportunities for corps members to serve in fields that align with their studies, thus preparing them better for the labor market," said Olawande in his statement. Reforming the NYSC System for Greater Impact Olawande further clarified that the revamped policy would provide corps members with the experience needed to thrive in their chosen professions. He added that, starting with the 2024 Batch ‘C’ Orientation, postings would be made in a manner that aligns more closely with the corps members’ courses of study, ensuring that their service year becomes a valuable stepping stone for their careers. The minister also acknowledged that the earlier policy, which restricted NYSC members to the public sector, had greatly hindered their development by limiting exposure to private sector environments where many of Nigeria's top job opportunities exist. Looking Ahead: A Key Change for Nigerian Youth This move is expected to have a far-reaching impact on the professional growth of young Nigerians, offering them exposure to diverse industries and a competitive edge in the job market. The policy’s expansion to cities like Lagos and Abuja is only the beginning, with future plans to include other states across the country. In a related development, the NYSC has also addressed the delay in the implementation of the recently approved increase in corps members’ monthly allowance. Although the Nigerian government had approved raising the stipend from N33,000 to N77,000 in line with the new national minimum wage, Brigadier General Yushau Ahmed confirmed that funding challenges have delayed the disbursement of the increased allowances.

[restaurantify]

Oklahoma Minimum Wage in 2023: What You Need to Know

In the current year, discussions about raising the minimum wage in Oklahoma are prevalent. As a business owner, it's crucial to remain well-informed on this subject. Not only is compliance with the Fair Labor Standards Act (FLSA) important, but keeping up with any changes to Oklahoma's minimum wage allows you to make informed decisions about your business's future. 

We've prepared a guide to help you understand the status of Oklahoma's minimum wage. 

Understanding the Minimum Wage 

The minimum wage is the lowest hourly wage established by federal law that employers can legally pay their workers. It serves as a legally mandated minimum wage floor that nonexempt workers must not work for or accept wages below. 

Oklahoma's Minimum Wage in 2023 

Oklahoma's minimum wage for employers in 2023 is $7.25 per hour, aligning with the federal minimum wage set by the Fair Labor Standards Act. While these are the historical and current Oklahoma minimum wage rates according to the US Labor Law Center, various towns and counties in Oklahoma have enacted their minimum wage laws, setting higher minimum wage standards for workers within their jurisdiction. For instance, Oklahoma City enforces a $11.50 minimum wage for employees working within the city limits, and Norman has set a minimum wage of $12.00 per hour for those working within the city's boundaries. It's essential for employees and employers to be aware of the specific minimum wage regulations that apply to them, as these regulations can differ depending on the location. 

It's worth noting that debates and discussions regarding Oklahoma's minimum wage, including calls for potential increases, have occurred in recent years. Any changes to the minimum wage in Oklahoma would necessitate legislative action and would be influenced by factors such as economic conditions, political considerations, and public sentiment regarding fair wages. 

Average Wages in Oklahoma 

Average wages in Oklahoma vary according to occupation and industry. In 2023, the average hourly wage in Oklahoma is $19.89, resulting in an annual salary of $41,371. These figures fluctuate significantly depending on the occupation. For instance, the average hourly wage for a retail salesperson in Oklahoma is $11.81, whereas a registered nurse earns an average hourly wage of $28.79. 

In general, the highest-paying industries in Oklahoma include healthcare, banking, and energy. For example, a healthcare administrator in Oklahoma receives an average annual salary of $89,000, while a financial analyst earns an average annual income of $74,000. On the other hand, the lowest-paying industries in Oklahoma are typically retail and food service. 

How Small Businesses and Restaurants in Oklahoma Can Comply with Minimum Wage Laws 

The restaurant industry, in particular, has historically relied more on minimum wage workers than other sectors due to its narrow profit margins, which typically range from 3% to 5%. Other industries with substantially higher profit margins have historically been better equipped to offer higher wages. To make working in the restaurant industry a viable and attractive option for employees, businesses need to find ways to not only meet but exceed the minimum wage. 

Strategies for Small Businesses and Restaurants: 

Price Adjustments: Many restaurants have had to increase prices to cover rising ingredient costs, which might need to be done again, and to provide fair wages to employees. 

Menu Optimization: Reducing menu items and focusing on popular and profitable offerings can cut down on food waste and inventory expenses. 

Ingredient Efficiency: Ensure ingredients are used in multiple menu items to minimize waste. 

Service Charges: Adding a percentage or fixed amount service charge to each bill and explaining how it supports competitive wages can help offset costs. 

Automatic Gratuities: Implementing automatic gratuities can ensure more consistent income distribution among staff. 

Preparing for Minimum Wage Changes as a Small Business Owner 

As an employer in Oklahoma, being ready for a potential minimum wage increase is essential. Here are some guidelines to help you prepare for such a change: 

Expense Review: Thoroughly review your business expenses to identify areas where you can cut costs. 

Hiring Practices: Invest in hiring the right people to reduce recruitment and training expenses. Candidates with strong track records who align with your company culture can lower turnover rates. 

Price Adjustments: Assess whether price increases are necessary to match rising labor costs, while being mindful of customer expectations. 

Technology Upgrades: Consider adopting cost-effective technologies tailored to small businesses to improve efficiency in areas like payroll management. 

Whether it's adapting to the Oklahoma minimum wage or obtaining an Employer Identification Number (EIN), Restaurantify is here to support you in enhancing and expanding your small business. 

[clickvibes]

NLC Threatens Indefinite Strike, Gives One Week Ultimatum

•Giving a bag of rice to 12 people, N100m to each lawmaker insulting – Labour •Govt has absconded from the negotiation table, fails to meet workers’ demands, says NLC Barely one week after leading a two-day nationwide warning strike, the organised labour on Tuesday threatened to begin an indefinite strike should the Federal Government fail to meet its demands at the end of a 21-day ultimatum which will expire in approximately one week’s time. The workers union said the proposed strike was necessary following the failure of the Federal Government to provide palliatives to assuage the Nigerians hardships as a result of the fuel subsidy removal. The Nigeria Labour Congress said the industrial action which may commence any day from next week would lead to an indefinite shutdown of commercial and economic activities across the country. Speaking with The PUNCH on Tuesday, the National Assistant General Secretary of the NLC, Mr Christopher Onyeka, said the FG was wrong to share a bag of rice to a dozen citizens while reportedly giving N100m palliative to each member of the National Assembly. The union had on September 1 handed down a 21-day ultimatum to the FG over the delay in sharing of palliatives, saying it might be compelled to declare an indefinite labour action if its demands were not met. “If the government fails to provide the appropriate responses to our demands, we encourage you to maintain your steadfast resolve. The same passion and determination that fuelled this warning strike will be crucial if we find ourselves compelled to embark on an indefinite nationwide strike,’’ the labour body said in a letter to the FG. To demonstrate its seriousness, the NLC mobilised workers for a two-day warning strike on September 5 and 6, partially grounding social and economic activities in several states with banks, ministries, agencies and departments closed to the public in some states. The NLC leadership had said the action was in preparation for a total shutdown which would start at the expiration of the ultimatum next week. Among other demands, the NLC and the Trade Union Congress were asking for wage awards, implementation of palliatives, tax exemptions and allowances to the public sector workers and a review of the minimum wage. Though the FG made a commitment to restructure the framework for engagement with organised Labour on palliatives, the eight-week timeframe set for the conclusion of the process expired in August with no action whatsoever. The committees were given eight weeks to conclude their assignment and hasten the implementation of the framework in cushioning the effect of petrol subsidy removal on Nigerians but weeks after the timeframe expired, the sub-committees had yet to meet or actualise their mandates. President Bola Tinubu had since June 19 set up the Presidential Steering Committee and various sub-committees to discuss the framework to be adopted on the palliatives. The sub-committees had been created to implement FG’s palliative package in areas such as Cash Transfers, Social Investment Programme, Cost of Governance, Energy, and Mass Transit and Housing. This was a fall-out of the President’s closed-door session with the leadership of the NLC and the TUC during a nationwide protest by the organised labour.  Nationwide protest Giving an update on the planned walk out following the lukewarm attitude of the government, Onyeka insisted that the FG had absconded from the negotiation table, noting that it had also failed to meet the workers’ demands. The union leader hinted that the strike would not notify the government before carrying out any action it deems fit. He said, “We sent the letter to the Federal Government on September 1, 2023, so by September 22, 2023, the 21-day ultimatum will end. “We have made it clear that the Federal Government has abandoned and absconded from the table for negotiation; that government is no longer negotiating with Nigerians and there is no good faith negotiation that is going on.’’ “President Bola Tinubu promised Nigerians on his own on the television with the President of NLC, Joe Ajaero, that he was going to restructure the committees, but he did not do that, and since then the committees have not met and there has been no negotiation that is on-going. As it is, NLC is not negotiating with the government,” Onyeka said. The Assistant General Secretary said Nigerians were insulted by the inadequate palliative being given. He lamented, “Can you see the insult that a ward would share a bag of rice and the government calls that a palliative? It is an insult to Nigerians, whereas the government gave legislators N70bn and each of the legislators gets over N100m in a country where Nigerians are suffering. “The FG is buying cars and houses of over N100m for each person and Nigerians are keeping quiet as if what is going on is a normal thing. NLC calls Nigerians to join hands together because they cannot do it alone. ‘’When NLC calls for action, people should come out, they should because it is a collective effort to make the government yield to the desires and the interest of Nigerians.” Workers who spoke to our correspondents said they have been badly affected by the withdrawal of the fuel subsidy, urging the government to quickly cushion the pains. In order to beat the harsh economic situation, civil servants said they have been devising various survival strategies, including skipping work as well as engaging in farming and trading to augment their incomes. Some workers in the Federal Capital Territory, Abuja and Lagos revealed that their organisations have reduced the number of work hours and days. They further noted that their organisations had also adopted the work-from-home model which became popular during the lockdown period following the COVID-19 pandemic in 2020. An Abuja-based civil servant, Judith Obiora said, “Most of the offices at the Federal Secretariat are no longer filled up as they used to be before the fuel subsidy removal. Now, we only come to the office twice or thrice a week.” A civil servant who is planning to relocate abroad said he could no longer cope with the high cost of living. He said, “The situation in Nigeria is very terrible because the minimum wage no longer meets the cost of living. Civil servants are suffering because the prices of things have increased, and it is tough to cope these days. “By the time you weigh everything, you will see that it is not worth it. Even as a businessman in this country, getting customers to patronise you is difficult, and getting your profit from the work you are doing is hard.” A worker, who identified himself as Friday, said he had been going to work three times a week to cut costs. He said, “It has greatly affected me because I can’t afford to go to work Monday through Friday anymore. I go three times a week. Even if the directors have their ways, they won’t show up. “The effect of the subsidy removal is general. The bus provided for my area is an 18-seater bus but we have over 50 staff living in Kuje, and the senior staff always get preference over the junior staff. ‘’The junior staff members are left behind. I don’t even try boarding the bus because I don’t want any senior staff member to talk to me anyhow (disrespectfully).” Hard times A staff member of a prominent agency who wished to be known as Vivian stated, “It has been tough, especially in the area of feeding. Things are very expensive, and for people like us who still have young children, it has been quite difficult meeting up. “If it is an adult, you can still manage, but how do you tell a child that the money is not enough? Also, in the area of transportation, it has been very difficult. For instance, the transport fare that used to be N100 before has jumped to N300, and when you calculate it, you will find out that the easiest thing to do is to work remotely once in a while.” A civil servant who identified herself as Sade said she and her husband had been having sleepless nights over the survival of their family. She lamented, “I was at the market yesterday, and I screamed. Things are too expensive. Honestly, we can’t continue like this. Apart from the high food prices, the school fees of my children have increased, and my husband and I have been having sleepless nights trying to manage ourselves.” One Mr Kunle Adams, who worked with a federal agency, said he had been forced to become a cab driver in order to generate extra income. He noted, “I usually do not like to pick passengers when going to work, but I have been doing it to cover the amount I spent on fuel. I once tried parking my car at home, but it was not convenient for me to do so; otherwise, I would have dropped it because it is cost-effective. ‘’If you are talking about high prices of commodities, that is everywhere, so who am I not to be affected? If only the government could intervene, it would be lovely.’’ Lamenting the situation, Ade Abayomi, a Lagos-based civil servant said, “It’s not been easy since the subsidy removal was announced. But I think the government has been reasonable too. I only go to work about thrice in a week these days.” Hassan Ahmed, who works with a federal parastatal in Abuja, admitted that he works remotely and only visits the office occasionally. “The cash crunch is affecting everyone, including government organisations and private companies and individuals. Most of us now work from home. I only go to the office occasionally now,” he disclosed. The Ekiti State NLC Chairman, Kolapo Olatunde, declared that the workers were working under harsh conditions since the Federal Government removed the fuel subsidy. Olatunde, who said the fuel subsidy removal had led to an increase in the prices of goods and services, justified the need for salary increment. “If you must fill your car tank now with petrol, you must have over N35,000 and that won’t serve you for two weeks. It means you have to fill your tank twice amounting to N70,000 to take you for four weeks. ‘’If you are a civil servant from whichever level to grade level 14, I am not sure the salary is up to that on a monthly basis. The equation is not balanced, that is the truth. That is why the government should have a listening ear,” Olatunde said. The NLC leader, who said reducing the working days was not the solution, noted, “The solution is to give workers what is required of them to do their work effectively so that at the end of the day, there will be a positive plough-back. “If you go to the office to solve problems, someone is now saying don’t come to the office twice or thrice in a week, who solves the problems of those days? It means that the office is not doing anything. It means we are deceiving ourselves. ‘’ “Then, what becomes of the unemployed if you are asking the employed people to stay at home? Definitely, that is a brighter picture that people will no longer be employed,” he concluded. Kwara workers In Kwara State, workers go to their offices three times a week in order to save money in view of the high cost of petrol. The state government had earlier directed the workers to report for work three times and added N10,000 to their salaries pending the review of the minimum wage. A female civil servant simply identified as Lola, explained that since the fuel subsidy was removed, she had been going to work thrice a week. ‘’Workers in my office agreed that we should be reporting in the office three times a week. We have agreed on which days to come to the office since the government said that we should come to work for three days in a week,’’ she noted. She complained about the high cost of transportation which she said had increased by 200 per cent. ‘’I have been reporting for work on Tuesday, Wednesday and Friday while others also selected other days of the week when they come to the office. In my house, we have also reduced the quantity of food we eat. We only eat in the morning and evening. ‘’On days that I don’t go to work, I supplement the feeding of my two children with garri in the afternoon if they complain of hunger as they are presently on holiday,” Lola stated. A worker in the governor’s office, Mallam Makun Abdullahi, revealed that he had stopped bulk purchase of foodstuffs from the cooperative society as he used to do on a monthly basis. “Though the government has added N10,000 to our monthly salary, it cannot take us anywhere. Our salary is no longer enough to feed our family. I am also involved in farming where I go on days I don’t go to work.” Public workers in Sokoto State explained that many of them do not come to the office every day in order to save money on transportation. Some of the civil servants in the state who spoke with our correspondent confirmed that the arrangement in most cases was among the junior staff without the knowledge of their boss. A state worker said, “We have some arrangements among ourselves to deal with the situation even though it’s without the knowledge of the management but we cover for ourselves. “Most of us use the spare time for farming as part of our own little way to tackle the current hardship.” The Sokoto State NLC Chairman, Abdullahi Aliyu, and his secretary, Hamisu Yanduna, were unavailable for comment. https://punchng.com/post-subsidy-talks-labour-threatens-indefinite-strike-gives-one-week-ultimatum/?amp Read the full article

[crimechannels]

By • Olalekan Fagbade Fuel Subsidy; Labour threatens indefinite strike, gives Federal Government one week ultimatum The organised labour has again threatened to begin an indefinite strike should the Federal Government fail to meet its demands at the end of a 21-day ultimatum which will expire in approximately one week’s time. As reported by The PUNCH, the workers union said the proposed strike was necessary following the failure of the Federal Government to provide palliatives to assuage the Nigerians hardships as a result of the fuel subsidy removal. The Nigeria Labour Congress said the industrial action which may commence any day from next week would lead to an indefinite shutdown of commercial and economic activities across the country. Speaking on Tuesday, the National Assistant General Secretary of the NLC, Mr Christopher Onyeka, said the FG was wrong to share a bag of rice to a dozen citizens while reportedly giving N100m palliative to each member of the National Assembly. The union had on September 1 handed down a 21-day ultimatum to the FG over the delay in sharing of palliatives, saying it might be compelled to declare an indefinite labour action if its demands were not met. “If the government fails to provide the appropriate responses to our demands, we encourage you to maintain your steadfast resolve. The same passion and determination that fuelled this warning strike will be crucial if we find ourselves compelled to embark on an indefinite nationwide strike,’’ the labour body said in a letter to the FG. To demonstrate its seriousness, the NLC mobilised workers for a two-day warning strike on September 5 and 6, partially grounding social and economic activities in several states with banks, ministries, agencies and departments closed to the public in some states. The NLC leadership had said the action was in preparation for a total shutdown which would start at the expiration of the ultimatum next week. Among other demands, the NLC and the Trade Union Congress were asking for wage awards, implementation of palliatives, tax exemptions and allowances to the public sector workers and a review of the minimum wage. Though the FG made a commitment to restructure the framework for engagement with organised Labour on palliatives, the eight-week timeframe set for the conclusion of the process expired in August with no action whatsoever. The committees were given eight weeks to conclude their assignment and hasten the implementation of the framework in cushioning the effect of petrol subsidy removal on Nigerians but weeks after the timeframe expired, the sub-committees had yet to meet or actualise their mandates. President Bola Tinubu had since June 19 set up the Presidential Steering Committee and various sub-committees to discuss the framework to be adopted on the palliatives. The sub-committees had been created to implement FG’s palliative package in areas such as Cash Transfers, Social Investment Programme, Cost of Governance, Energy, and Mass Transit and Housing. This was a fall-out of the President’s closed-door session with the leadership of the NLC and the TUC during a nationwide protest by the organised labour. Giving an update on the planned walk out following the lukewarm attitude of the government, Onyeka insisted that the FG had absconded from the negotiation table, noting that it had also failed to meet the workers’ demands. The union leader hinted that the strike would not notify the government before carrying out any action it deems fit. He said, “We sent the letter to the Federal Government on September 1, 2023, so by September 22, 2023, the 21-day ultimatum will end. “We have made it clear that the Federal Government has abandoned and absconded from the table for negotiation; that government is no longer negotiating with Nigerians and there is no good faith negotiation that is going on.’’ “President Bola Tinubu promised Nigerians on his own on the

television with the President of NLC, Joe Ajaero, that he was going to restructure the committees, but he did not do that, and since then the committees have not met and there has been no negotiation that is on-going. As it is, NLC is not negotiating with the government,” Onyeka said. The Assistant General Secretary said Nigerians were insulted by the inadequate palliative being given. He lamented, “Can you see the insult that a ward would share a bag of rice and the government calls that a palliative? It is an insult to Nigerians, whereas the government gave legislators N70bn and each of the legislators gets over N100m in a country where Nigerians are suffering. “The FG is buying cars and houses of over N100m for each person and Nigerians are keeping quiet as if what is going on is a normal thing. NLC calls Nigerians to join hands together because they cannot do it alone. ‘’When NLC calls for action, people should come out, they should because it is a collective effort to make the government yield to the desires and the interest of Nigerians.” Workers who spoke to our correspondents said they have been badly affected by the withdrawal of the fuel subsidy, urging the government to quickly cushion the pains. In order to beat the harsh economic situation, civil servants said they have been devising various survival strategies, including skipping work as well as engaging in farming and trading to augment their incomes. Some workers in the Federal Capital Territory, Abuja and Lagos revealed that their organisations have reduced the number of work hours and days. They further noted that their organisations had also adopted the work-from-home model which became popular during the lockdown period following the COVID-19 pandemic in 2020. An Abuja-based civil servant, Judith Obiora said, “Most of the offices at the Federal Secretariat are no longer filled up as they used to be before the fuel subsidy removal. Now, we only come to the office twice or thrice a week.” A civil servant who is planning to relocate abroad said he could no longer cope with the high cost of living. He said, “The situation in Nigeria is very terrible because the minimum wage no longer meets the cost of living. Civil servants are suffering because the prices of things have increased, and it is tough to cope these days. “By the time you weigh everything, you will see that it is not worth it. Even as a businessman in this country, getting customers to patronise you is difficult, and getting your profit from the work you are doing is hard.” A worker, who identified himself as Friday, said he had been going to work three times a week to cut costs. He said, “It has greatly affected me because I can’t afford to go to work Monday through Friday anymore. I go three times a week. Even if the directors have their ways, they won’t show up. “The effect of the subsidy removal is general. The bus provided for my area is an 18-seater bus but we have over 50 staff living in Kuje, and the senior staff always get preference over the junior staff. ‘’The junior staff members are left behind. I don’t even try boarding the bus because I don’t want any senior staff member to talk to me anyhow (disrespectfully).” #Labourthreatensindefinitestrikeissuesoneweekdeadline

[sydney-humanism-group]

WEEKLY SUMMARY SPECIAL REPORT NYERERE'S PLANS FOR TANZANIA

Summary

The article discusses the Arusha Declaration, a statement of TANU’s policy of socialism and self-reliance. The declaration was issued in 1967 and called on the government to take several steps, including:

Consolidating control over the "major means of production": This included nationalizing foreign-owned commercial banks, import-export firms, and insurance companies, and taking over the largest industries and agricultural estates. For example, the government nationalized the Tanganyika Development Corporation (TDC), which was a major agricultural and industrial conglomerate.

Preparing development plans that the country could carry out without being overly dependent on foreign loans and grants: This included putting into effect price and wage guidelines, reforming the tax structure, and abolishing several local levies. For example, the government introduced a system of price controls on essential goods, and it also raised taxes on luxury goods.

Ensuring that incomes in the private and public sectors were on a par: This meant that government officials and civil servants were no longer allowed to have outside business interests, and that their salaries were capped. For example, the government passed a law that prohibited government officials from owning more than one house.

Improving the living standards of the peasantry: This included a focus on rural development, such as agricultural extension efforts and the creation of ujamaa villages. For example, the government established a number of agricultural extension centers, and it also provided financial assistance to peasants who wanted to start their own farms.

The article then goes on to discuss the Socialist characteristics of Tanzania, which are based on the principles of collectivism, egalitarianism, and self-reliance.

Collectivism: Under Tanzanian socialism, the government owns the major means of production, such as land, factories, and businesses. This is in contrast to capitalism, where the means of production are owned by private individuals or corporations. For example, the government owns all of the country's banks, and it also has a majority stake in most of the major industries.

Egalitarianism: Under Tanzanian socialism, there is a strong emphasis on equality. The government tries to ensure that everyone has equal opportunities, regardless of their social class or background. This is in contrast to capitalism, where there is a greater degree of inequality. For example, the government provides free education and healthcare to all citizens, and it also sets minimum wages for all workers.

Self-reliance: Under Tanzanian socialism, the country is committed to self-reliance. The government tries to reduce its dependence on foreign aid, and it encourages Tanzanians to be self-sufficient. This is in contrast to many other developing countries, which are heavily reliant on foreign aid. For example, the government has been trying to increase agricultural production in order to reduce the country's reliance on food imports.

The article notes that the implementation of socialism in Tanzania has been challenging. The government has faced resistance from some peasants, who are reluctant to give up their land and work together in collectives. However, the government has made some progress, and there are now a number of successful ujamaa villages.

The article concludes by noting that the future of socialism in Tanzania is uncertain. However, the article does note that Nyerere is a determined leader, and he is unlikely to give up on socialism without a fight. If he is able to overcome the challenges that Tanzania faces, the country could become a model for socialist development in Africa.

[bernardodias]

When Architects Work for People, not Profit. Revolution and the Architecture Workers Movement in Portugal

The mission of Portugal's short-lived Serviço Ambulatório de Apoio Local to bring architects to the communities that needed them most is now more relevant than ever.

The period known in Portugal as the “Ongoing Revolutionary Process“ (25th April 1974- 25th November 1975) brought unprecedented visibility to the country’s underprivileged classes. Emerging in response to a military coup d’état, the people’s class consciousness was taken to the streets, with mass movements expressing a renewed awareness of their fundamental right to healthcare, food, education and quality housing. In order to support this grassroots political awareness, unveiled by the revolutionary event, public policies were put in place by the transitional government to meet the people’s demands.

Up until that point, large sections of the Portuguese population experienced dreadful housing conditions. Under the umbrella of a paternalistic dictatorship, exploitative labour conditions and strong pressure exerted by a privately-controlled housing market combined to force a substantial number of families to sub-lease meagre accommodation, live in ilhas (literally, ‘islands’: precarious units of collective housing built in the interior of urban blocks by the owners of the plots in order to increase rent extraction) or find residence in extremely dense communities of illegal shacks. Meanwhile, where the government did intervene, the policy was to relocate poor communities into newly developed areas on the urban periphery.

Under the revolutionary process, however, local communities were allowed to organize their demands in neighbourhood associations and housing co-ops, whose purpose was to reclaim decent accommodation financed by the state within the neighbourhoods they had called home for many years.  

Decreed by then State Secretary for Housing and Urbanism, architect Nuno Portas, the SAAL (‘Serviço Ambulatório de Apoio Local’; translated as Mobile Local Support Service) aimed to provide these sections of the population with the means to design and build their own houses and communities. In order to meet this provision, the state became not only responsible for subsidizing the operations (in some cases, through non-repayable funds), but also for soliciting and remunerating so-called “technical brigades” composed of both architects and architectural students. These technical brigades would provide the requisite technical (and artistic) assistance to those communities.

This situation of dual power, wherein people on the streets were temporarily able to exercise power over and above the government, opened the window for an unprecedented democratic way of conceptualising and building the city. As far as citizens were concerned, it offered them a chance to escape the ruthless imposition of real estate, and to express their particular visions and ideas of a dignified city. For young architects, it gave them new opportunities to experiment on an urban scale. They were also able to restructure their social role, which had hitherto been trapped between the bourgeois affectations of the liberal architect and the technical bureaucracy that came with working for a centralized state apparatus. Last, but not least, for students, the situation represented the possibility for a ‘radical pedagogy’, as Joaquim Moreno puts it. It allowed them to overcome the limitations of the school and learn to build within a context where reality and ideology, political activity and disciplinary knowledge, objectivity and subjectivity, were refined dialectically. For that period, rather than being an institution of redundant protocols and canons, architecture became the universal right to a self-determined and dignified organization of space: a rich and multi-layered experience of concrete and collective expression, both on a disciplinary and political level.

With all that said, this process was only possible under specific historical circumstances. The revolution had temporarily brought capitalistic dynamics to a halt and reset the country on a path to socialism. On the one hand, large sections of the population were mobilized to unveil and denounce social contradictions. On the other hand, invested political agents, like Portas, proved to be agile enough to unlock the bureaucratic apparatus of the State, and direct it to the benefit of the people. However, after a counterrevolutionary turn, the legal ‘normality’ of the bourgeois state was gradually reinstated, and the SAAL operations ceased by decree on 26th October 1976, eventually opening the door to a new housing regime driven by state-subsidised financial credit.

This was the way the wind was blowing in the late seventies. After decades of global emancipatory political struggles, the world started to experience a ‘neoliberal turn’. Omnipresent free markets synchronized time and space all over the world. Labour became global, flexible, and mobile. The realms of extraction (e.g mining) and production (e.g. factory work) were systematically exported to poorer corners of the planet.

Meanwhile, the governments of developed countries gradually allowed markets to expand once more into housing and the reproductive sphere (characterised by work that nurtures and regenerates the workforce and activity that re-creates the existing economy). If in the previous framework of welfare states, production and reproduction were co-dependent and regulated to varying degrees by the state, in this new phase of economic development, full privatization became the order of the day. Housing went from a fundamental right to a stable and safe investment, for both domestic and foreign finance.

In Portugal, this paradigm had become fully entrenched by 2012, the year in which a right-wing government, controlled by the so-called European ‘Troika’ (composed of the European Commission, the European Central Bank and the International Monetary Fund) implemented austerity measures which included the liberalization of the rental market. In a sunny, quiet and inexpensive country, cursed by the sense of opportunity of big corporations such as Ryanair or Airbnb, this was a perfect recipe for profitable tourist-oriented urbanity, monopolized by private investment.

Some of the most recent statistics are essential to understand the scope of these policies. Take Porto for instance. Here, the government had made considerable public investments in the city’s public and transport infrastructure under the pretext of becoming European Capital of Culture in 2001. The resulting boost this gave to the local tourist trade, in turn, had the effect of increasing the potential land rent. Now, some neighbourhoods have become more than 50% tourist accommodation, with 57% of the houses in the city centre requiring the eviction of long-standing residents against their will. For an 80 m2 one-bedroom apartment, the average price is as much as €600 (precisely equivalent to the National Minimum Wage). Even the percentage of public housing owned by the municipality widely superior to the national average (13% against 2%) is insufficient to counteract this tendency. As growing sectors of the population, young and old, are deprived of a home of their own, the housing crisis has become as big a threat as low wages and unemployment.

On the flip side, the labour of those who plan and build the city has become a battlefield between productivity, profit and austerity. At the core of this dynamic, architects stand in a privileged position to understand the systemic nature of precarity. As it goes, not only is their labour exploited, but they are forced to act as agents of other people’s exploitation. In fact, a quick overview of any given Portuguese studio´s most recent output frequently reveals their active participation in the gentrification process, wherein they use their disciplinary background to prettify this dispossession: increasing the exchange-value of those houses, often through the application of materials produced on the other side of the world under substantially worse labour conditions.

João Paupério and Maria Rebelo

[berniesrevolution]

JACOBIN MAGAZINE

As socialists prepare for the long campaign to elect Bernie Sanders president, we should be thinking about the confrontations to come if we actually get what we want. We’ve been losing for a very long time. There have been some green shoots recently, but we still face immense challenges in simply overcoming neoliberal capitalism, let alone moving beyond social democracy and into a democratic-socialist society.

One possible outcome of a Sanders presidency involves the administration bowing to “political reality,” abandoning most of its program, and finding one or two symbolic measures it can pass. Its supporters are told to be happy with what they can get. Think of this as the “Bill de Blasio” scenario.

The other scenario involves a working-class movement and its president going to war with Congress (not just the Republicans but most of the Democrats as well), the Supreme Court, and recalcitrant state legislatures; adopting a strategy of dissensus rather than consensus; and demanding that undemocratic obstacles to necessary social change are swept out of the way. Think of this as the “Salvador Allende” scenario.

This necessarily means imagining our agenda on a federal level as involving more than just parliamentary action, and more than one electoral cycle. One key tool must be the use of appointments to federal positions and executive action to enable labor and social movement assertiveness. The Trump administration has showed that an executive branch alone can quickly reverse key policies of its predecessor. The incoming administration should do the same, while appointing radically pro-labor nominees to the National Labor Relations Board and Department of Labor, and similarly ambitious environmentalists to departments dealing with energy and climate change issues. The administration should immediately take all possible actions to regularize the status of undocumented immigrants and dismantle the internal enforcement machine.

Sanders should also use the bully pulpit of the presidency to support primary challengers against obstructionist Democrats. Many representatives are merely careerists who will acquiesce to a leftist program if it is a choice between that or irrelevance. But a core of ideological centrists should be dislodged entirely — if only to set an example for the rest that they would pay a higher price for obstructing progress than they will for upsetting their former corporate masters.

Inside Congress, caucuses of committed socialists must be established, and will be required to exert their influence to ensure that legislation is not watered down. We have already seen the beginnings of this with representatives like Rashida Tlaib and Alexandria Ocasio-Cortez, but many more are needed — and existing members of the Progressive Caucus must get more serious about opposing the political establishment rather than acting as intermediaries between the Democratic leadership and a progressive base.

But while breaking down opposition to the minimum program of a Sanders administration, we must also think about how to push forward in the event that we’re successful, ensuring that we do not simply declare “job done” upon reaching a social democracy and give capital time to regroup. In a world where we have twelve years to mitigate the impact of climate change, there is no such thing as a partial victory.

Beyond Social Democracy

This means we need to review the legislative component of our path to socialism — how government policy can be shaped to enable changes in political economy that reflect and promote class struggle. One of these mechanisms should be legislation that mandates a ratcheting increase in worker ownership and control of major companies.

“What is important, however, is to maintain an ambitious horizon. We do not simply seek to change the boundaries between the public and private sector; as socialists it is our position that profit extracted by capitalists should not exist.”

There are a number of models that the US left can look to — the most well-known being the Meidner Plan, the 1970s Swedish scheme to use a share levy on profitable companies to build up union-controlled funds that would have eventually controlled all significant firms in the economy. The plan failed due to strong opposition from capitalists, right-wing parties, and the lukewarm attitude of the Social Democratic leadership — it was reduced to a shadow of its former self in its eventual implementation before being dissolved entirely in the early 1990s.

However, similar ideas have recently been revived in the United Kingdom, where Shadow Chancellor John McDonnell has proposed a system of “Inclusive Ownership Funds” (IOF) that would underline Labour’s other economic policies on living wages, union rights, democratic ownership, codetermination, and public banking.

Going beyond this, the party now proposes that 1 percent of companies’ shares be given to workers through an inclusive ownership fund each year, up to a cap of 10 percent (this is of only moderate relevance, since Labour could stand in future elections on a platform of raising the cap). The funds would, in many firms, make the workers the largest single shareholder, and instead of vesting the powers in a distant pension fund they have little control over, they would directly elect their own trustees.

If we are thinking about how a Sanders administration might introduce a democratic heartbeat which gradually increases the level of economic democracy around the country on an automatic basis, even if one or more of the institutions of power falls to opponents, a law of this sort could be an incredibly important tool for resetting the default state of economic development, away from greater privatization and towards greater socialization.

What we are considering here are residual policies which aim to introduce a rising baseline of economic democracy in those parts of the economy that are not covered by our specific policies that aim to rapidly socialize or eliminate key sectors or firms.

There is certainly, for example, a compelling need to dismantle the health insurance industry by creating a single-payer national health care program. Companies like Aetna and Blue Cross Blue Shield will not be brought under workers’ control through a gradual transition mediated through an IOF; they will instead be eliminated entirely, with displaced workers assisted through a transitional program.

(Continue Reading)

[hardynwa]

Lagos LP Guber Candidate Pledges to Increase Minimum Wage to N60,000

The governorship candidate of Labour Party in Lagos State, Gbadebo Rhodes-Vivour has vowed to make the life of workers in the state better by increasing the minimum wage to N60,000. According to him, the increase will happen in the first 100 days in office. Speaking during an interactive session with journalists in Lagos at the weekend, Rhodes-Vivour said the target was to ensure that minimum in Lagos got to N100,000 as soon as possible. “This will cover everybody including street sweepers,” he said. He appealed to Lagos residents to come out on en mass on Saturday to vote for his party in the gubernatorial election this Saturday, as he highlighted his vision for a new Lagos. He pointed out that under his administration, he would employ moral suasion to persuade the organised private sector follow government’s lead by stopping casualisation and also increase their minimum wage to a living wage. “Banks, telcos, oil companies, multinationals, large national corporates, etc will be incentivised with PAYE tax credits to stop casualisation and index their minimum wage to their capacity to pay rather than current market wage rates which are suppressed by high unemployment. A first step for a Lagos where every worker has health care, pensions and similar benefits,” he said. He also vowed to “cancel Alpha Beta’s Contract which costs the state N5 billion monthly,” and use the savings from the cancellation of Alpha Beta contract to set up a grand Loan Scheme for Micro, Small and Medium Scale Enterprises. He promised to ensure at least 10,000 beneficiaries in the scheme in his first 100 days in office. “We expect the scheme to benefit up to one million beneficiaries in four years,” he added. Furthermore, the Labour Party guber candidate pledged to establish a portal for publishing costs of all government projects and compare them to World Bank standards to eliminate waste and corruption and also issue a 10-year order for 10,000 vehicles to an auto manufacturer that commits to building an auto assembly in Lagos, with a credible plan to achieve 50 per cent value added within five years. His plans also include taking away burden of taxation from residents by pulling down all toll gates in the Lekki Ajah axis and Ikoyi link bridge and “build a monument in memory of our slain sons and daughters at the old Lekki Toll Gate.” “We shall advertise for the employment of 10,000 teachers with outstanding grades (First Class and Second Upper or Upper Credit) to start a process of repositioning teaching as a middle-class career. “Execute a Memorandum of Understanding with all Road Transport Unions for the implementation of a rehabilitation and retraining program, and take Agberos off our roads. Invite bids for the design and construction of 100 km of rail across Lagos. “Host an education summit with all stakeholders to get buy-in into GRV’s plan for partnerships to upscale public schools to the standards of the best private school by “Making School Fun’…a plan to digitalise all schools with free tablets, computers, internet and free education from primary to secondary school. “Host a health summit with all stakeholders to get buy-in for partnerships to upscale services at Primary Health Centres to best-in-class, laying the foundation for an effective referral system. “A summit for various artisan associations such as bricklayers, plumbers, mechanics, welders, carpenters, tailors and other technicians with the objective of creating a process for their certification and access to small-scale loans. “Working with my party, the Labour Party, we shall appoint first-class caretaker Chairmen for each Local Govt, each appointee being skilled enough to be a potential governor,” he added. Meanwhile, a pan-Igbo socio-cultural and political organisation, Obigbo has endorsed Rhodes-Vivour in the rescheduled March 18, 2023 governorship election in the State. Just as the Afenifere last week endorsed the candidature of Rhodes-Vivour, the Obigbo comprising the Igbo, progressive Yoruba and other ethnic nationalities enjoined her members to vote massively for the governorship candidate of Labour Party and all other candidates of the party for the Lagos State House of Assembly. In a statement signed by the National Publicity Secretary of the organisation, Gideon Oji Agwu, he advised Lagosians to vote massively for the Labour Party in the March 18 rescheduled Governorship and House of Assembly elections. According to the group, Lagos State remains a heterogeneous society and center of excellence for all Nigerians, but regretted that it was quickly becoming a political fiefdom of a few self-acclaimed leaders who felt that without them, Lagos State would not work. The group alleged that the deep rooted corruption, high taxation, intimidation and anti-people policies have so impoverished Lagos residents that “it is time to vote out those people and their surrogates.” The body also alleged out that the APC-led government in Lagos State had earmarked three major markets for demolition by September, if re-elected. “We are, therefore, calling on the electorate, especially the Igbo nation, to be vigilant and stand against such plans to massively rig the forthcoming elections, and to vote them out and break the chains of political and economic slavery, and return Lagos to her place of pride and unity as envisioned by Macaulay, Azikiwe, Awolowo and other founding Fathers,” “Rhodes-Vivour is a detribalise Nigerian and a scion of the illustrious Rhodes-Vivour family of Lagos whose family ancestry and pivotal contribution to the affairs of Lagos dates back to five generations and would restore the cherished values of Lagos encapsulated in the promoting goodwill, dignity and nobility of spirit,” Agwu said. The organisation while advising the incumbent to forget about his dream of being re-elected, as governance was, “not about leaking ice cream in Shopping Malls,” also admonished her members from all the market unions to adhere strictly to the scheduled meetings and at the stipulated time for obvious reasons. Read the full article

[richiebigjoe]

CTTO: Oluwafemi Ogun-Johnson

PETER OBI'S CV:

=====

NAME : Mr. Peter Gregory OBI, (CON)

DATE OF BIRTH : 19th July 1961

PLACE OF BIRTH: Onitsha, Nigeria

NATIONALITY: Nigerian

MARITAL STATUS: Married with two children

EDUCATIONAL INSTITUTIONS ATTENDED

· Christ the King College, Onitsha (W.A.S.C) Go & Verify

. University of Nigeria, Nsukka (B.A. Philosophy)Go & Verify

· Lagos Business School, Nigeria (Chief Executive Program)Go & Verify

· Harvard Business School, Boston, U.S.A. (Mid to Mid Marketing)Go & Verify

· Harvard Business School, Boston, U.S.A. (Changing the Game)Go & Verify

· London School of Economics (Financial Mgmt/Business Policy)Go & Verify

· Columbia Business School, New York, U.S.A. (Marketing Mgmt )Go & Verify

· Institute for Management Development, Switzerland (Senior Executive Program)Go & Verify

· Institute for Management Development, Switzerland (Break-Through Program for CEOs)Go & Verify

· Kellogg Graduate School of Management, U.S.A. (Advanced Executive Program)Go & Verify

· Kellogg School of Management U.S.A. (Global Advanced Mgmt Program)Go & Verify

. Oxford University: Said Business School, (Advanced Mgmt& Leadership Program)Go & Verify

. Cambridge University: George Business School (Advanced Leadership Program)Go & Verify

PREVIOUS POSITIONS

· Governor, Anambra State of Nigeria (2006-2014)Go & Confirm

· Honorary Special Adviser to the President on Finance (till May, 2015)Go & Confirm

· Member, Presidential Economic Management Team (till May, 2015)Go & Confirm

· Vice-Chairman, Nigeria Governors’ Forum (2008-2014)Go & Confirm

· Chairman, South-East Governors’ Forum (2006-2014)Go & Confirm

. Former Chairman: Board of Securities and Exchange Commission (SEC)Go & Confirm

· Former Chairman: Fidelity Bank Plc.Go & Confirm

· Former Chairman: Guardian Express Mortgage Bank, Ltd. Go & Confirm

· Former Chairman: Future Views Securities, Ltd. Go & Confirm

· Former Chairman: Paymaster Nigeria Plc. Go & Confirm

· Former Chairman: Next International (Nigeria) Ltd Go & Confirm

· Former Director: Guardian Express Bank Plc.Go & Confirm

· Former Director: Chams Nigeria Plc. Go & Confirm

· Former Director: Emerging Capital Ltd. Go & Confirm

· Former Director: Card Centre Plc. Go & Confirm

MEMBERSHIP OF PROFESSIONAL ASSOCIATIONS/ORGANIZATIONS

· Member, Nigerian Economic Summit Group (NESG) Go & Verify

· Member, Nigerian Chartered Institute of Bankers. Go & Verify

· Member, British Institute of Directors (IOD) Go & Verify

MEMBERSHIP OF FEDERAL GOVERNMENT COMMITTEES

In my capacity as the Governor of Anambra State, I served as a member of:

*Federal Government Committee on Minimum Wage. Go & Verify

*Federal Government Committee on Negotiation with Labour on Subsidy. Go & Verify

*Federal Government Committee on Mass Transit. Go & Verify

*Federal Government Committee on Natural Resource. Go & Verify

*National Economic Council Committee on Power Sector Reform. Go & Verify

*National Economic Council Committee on Sharing of MDGs Funds. Go & Verify

*National Economic Council Committee on Accurate Data on Nigeria’s Oil Import and Export. Go & Verify

*Agricultural Transformation Implementation Council. Go & Verify

*Sub-Committee on Needs Analysis of Public Universities in Nigeria. Go & Verify

*National Economic Council Review Committee on the Power Sector. Go & Verify

AWARDS & RECOGNITIONS

2015: Golden Jubilee Award from Catholic Diocese of Onitsha for outstanding contribution to quality healthcare delivery in St. Charles Borromeo Hospital in particular and Anambra State in general, on the occasion of the Golden Jubilee celebration of the hospital. Go & Verify

*2014: Nigerian Library Association Golden Merit Award for remarkable improvement of libraries in Anambra State, exemplified by our Government's construction of the Kenneth Dike Digital State Library, remarkable upgrade of the Onitsha Divisional Library, and provision of library facilities in secondary schools across the State. Go & Verify

*2014: Champion Newspaper Most Outstanding Igbo Man of the Decade. Go & Verify

* 2014 The Voice Newspaper (Holand) Achievers Award for Outstanding Example in Leadership and Governance. Go & Verify

*2013: Silver Bird Man of the Year (with Governor BabatundeFashola of Lagos State). Go & Verify

*2012: Business Hallmark Newspaper Man of the Year. Go & Verify

*2012: The Golden Award on Prudence – by the Methodist Church of Nigeria as the Most

Financially Prudent Governor in Nigeria. Go & Verify

* 2012: Leadership and Good Governance Award by The Ezeife Leadership Foundation Award for restoring peace and harmony to Anambra State. Go & Verify

* 2012: Best Performing Governor on Immunization in South-East Nigeria – by Bill & Melinda Gates Foundation. Go & Verify

* 2012: Outstanding Financial Planner and Manager – by the Church of Nigeria, Anglican Communion for my resourcefulness and creativity in governance. Go & Verify

*2011: Zik Leadership Prize. Go & Verify

*2010: ICT Governor of the Year – by the West Africa ICT Development Award. Go & Verify

*2009: Champion Newspaper Nigeria’s Most Trustworthy Governor Award. Go & Verify

*2009: Thisday Newspaper Most Prudent Governor in Nigeria. Go & Verify

*2007: The Sun Newspaper Man of the Year Award. Go & Verify

**The Nigerian MDGs Office/UNDP Best Governor in the Implementation of the MDGs in Nigeria. Go & Verify

INTRODUCTION OF CONSTITUTIONAL AND OTHER MAJOR CHANGES IN NIGERIAN POLITICS

*He was the first gubernatorial candidate in Nigeria to legally challenge to its logical conclusion, his governorship electoral victory that was denied him. He won in the Courts and reclaimed his mandate. Go & Verify

*He was the first Governor in Nigeria to legally challenge his wrongful impeachment and was reinstated by the Courts. Go & Verify

*He was the first Governor in Nigeria to seek the interpretation of tenures of Governors when INEC allowed elections to take place in Anambra State when his tenure had not expired; the election already concluded was cancelled and he was allowed to complete his tenure. Go & Verify

*He was the first Governor to serve a 2nd term in both the new and old Anambra State, that is, almost 40 years after creation of the State. Go & Verify

*He was the first Governor, whilst still in Office, to be appointed a Special Adviser to the President. Go & Verify

*He was the first serving Governor to be appointed into the Presidential Economic Management Team. Go & Verify

*He was among the first Governors to be honoured with a National Award in 2011, while still in office. Go & Verify

*Though the only Governor whose political party was in government in only one State, he was elected Vice-Chairman of the Nigeria Governors’ Forum twice. Go & Verify

*Though the only non-PDP Governor in the South-East (made up of 5 States), he was elected by the other 4 PDP Governors as their Chairman for 8 years rather than the usual one year. Go & Verify

FUNDAMENTAL ACHIEVEMENTS AS GOVERNOR OF ANAMBRA STATE (PARTIAL LISTING)

1. Anambra was the first State to commence Sub-Sovereign Wealth savings, the first of its kind in Sub-Saharan Africa. At a time many other Governors were leaving huge debts, I left the equivalent of $500 million Dollars in investment as well as local and foreign currency, including $156 million in Dollar-denominated bonds. Go & Verify, the records are.

2. For the first time in the history of Anambra State, Ambassadors and High Commissioners of notable countries such as United States, Britain, Russia, European Union, South Africa, Belgium, Israel, the Netherlands, Canada, among others, visited the State. Before my tenure, Anambra was practically a pariah state blacklisted by the Diplomatic Corps and international development partners. Go & Verify

3. Development partners such as UNDP, UNICEF, the World Bank, DFID, the European Union etc., which hitherto were not in Anambra State started working with the State. Anambra was consistently adjudged one of the best states in development partnership and commitment to reforms for good governance. Go & Verify

4. He was recognised as Best Governor by the Millennium Development Goals Office (OSSAP-MDGs) and the UNDP in the implementation of their programmes in Nigeria. Go & Verify

5. The Nigerian Debt Management Office (DMO) rated Anambra as the least indebted state in Nigeria. In spite of visible and measurable achievements recorded in various sectors, the State under him did not borrow or raise bonds for her various projects. Go & Verify

6. The Senate of the Federal Republic of Nigeria rated Anambra State as the most financially stable state in the country. Go & Verify

7. The State's ground-breaking return of schools to their original owners - Voluntary Agencies (Churches) on 1st January 2009, and subsequent partnership with the Agencies in Education, saw the State move from 24th position out of 36 States to Number One in National Examination Council (NECO) and West African Examination Council (WAEC) examinations for three consecutive years. This made the World Bank to commission a study, led by the renowned Prof. Paul Collier of Oxford University, on this revolutionary partnership and phenomenal achievement. Go & Verify

8. The State also entered into strategic partnership with the Churches in the Health sector. This symbiotic relationship resulted in a tremendous boost to health care because of the services offered by health institutions owned by Voluntary Agencies, while the State restored grants to the agencies and made available to them more than 50 million Dollars in various types of support. Go & Verify

10. Through partnership with the Church in the Health sector, his Government funded the transformation of -:

a: Iyienu Hospital, Ogidi; Go & Verify

b: Our Lady of Lourdes Hospital, Ihiala; Go & Verify

c: St Charles Borromeo Hospital, Onitsha; Go & Verify

d: Holy Rosary Hospital, Waterside, Onitsha; and Go & Verify

e: St. Joseph Hospital, Adazi-Nnukwu.

His Government also built the Joseph Nwilo Heart Centre in St. Joseph, Adazi-Nnukwu, where heart operations are now being performed. Go & Verify

11. His Government won the Bill and Melinda Gates Foundation (1 Million dollars) as the best-performing state in immunisation in the South-East. With complementary funding from our Government, they used the money to build 10 Maternal and Child Care Centres across the State, particularly in rural communities, in partnership with the Churches. Go & Verify

12. The State was the first to procure and distribute more than 30,000 computers to secondary schools, including 22,500 from HP. The Managing Director for Personal Systems Group HP Inc, Mr. FabriceCampoy described the deployment as the biggest of such projects in the Middle-East and Africa. Go & Verify

13. Anambra State Government provided Microsoft Academies to more than 500 secondary schools, which the Head of Microsoft in Nigeria (Mr. Ken Span) described as the biggest such deployment in Africa so far. Go & Verify

14. The State provided Internet access to more than 500 secondary schools, which the CEO of Galaxy Backbone (Mr. Gerald Ilukwe) characterized as incomparable to any in the country. Go & Verify

15. More than 700 buses were provided to secondary schools in the State by our Government. Go & Verify

16. Boreholes were provided in schools all over the State. Go & Verify

17. Numerous classrooms were built in all the 177 communities of the State. Go & Verify

18 As part of the efforts to turn around the economy of the State, a number of companies were attracted to build their facilities in the Anambra State. A case in point is SABMiller, the 2nd largest brewery in the world, which built their first Green Field facility in the State, which is today one of the most successful facilities they operate globally. Go & Verify

19. A number of other companies followed the SABMiller initiative and were all supported and encouraged under our Government; a good example is INNOSON Motor Manufacturing Company, from which our government bought more than 1,000 vehicles. Go & Verify

20. Anambra State for the first time started close collaboration with recognized government security agencies (the Police, Army, Navy, Department of State Security, Civil Defence, among others), offering them various types of support including provision of more than 500 security vehicles. The improvement in security was phenomenal, such that the former IG of Police (Abubakar Mohammed) lauded Anambra State for not witnessing any bank robbery in my last three years in office. Go & Verify

21. To further enhance security, Anambra State provided at least one security vehicle to each of all the 177 communities in the State as well as various organizations such as markets and Churches. Go & Verify

22. His Administration conceived and built, from scratch, the first state-owned Teaching Hospital, Chukwuemeka Odumegwu-Ojukwu teaching Hospital, Awka. Go & Verify

23. His Government commenced the planned development of the Igbariam Campus of the ChukwuemekaOdumegwu-Ojukwu University, including the fencing, construction of internal roads, electrification, construction of the Faculty of Law, Auditorium, Administrative Block, Faculty of Agriculture, Management Building, among others). Go & Verify

24. His Government attracted the World Bank support on erosion - National Erosion and Watershed Management Project (NEWMAP) - to Anambra State. Go & Verify

25. His Government was the first to do Poverty Mapping in Nigeria, as a guide for the effective implementation of our poverty-alleviation strategies. Go & Verify

26 His Government, for the first time, undertook the aerial mapping of Awka as well as the production of Structure Plans for Awka Capital Territory, Onitsha and Nnewi. Go & Verify

27. During his tenure and with his Government's support, Anambra State became an oil producing State. Go & Verify

28. He built the first Secretariat Complex to house State Government Ministries that were hitherto scattered around the State. Go & Verify

29. His government commenced the development of the 'Three Arms Zone' comprising Government House/Governor’s Lodge, Legislative Building/Speakers Residence, and Judiciary Building with Chief Judge’s Residence. Go & Verify

30. By the end of his tenure in 2014, more than twelve (12) health institutions, including two hospitals, had secured accreditation; when we took off in 2006, no health institution in Anambra State was duly accredited. Go & Verify

31. Anambra State was the first to undergo national peer review, which scrutinised State Governments for good governance, through the State Peer Review Mechanism (SPRM), an initiative of the Nigerian Governors’ Forum in collaboration with the DFID…. Go & Verify

If wishes were horses……

But I know some wants to ride on wolves…… I just pray that before the D date, God's Grace will confirm & Verify their Hearts to good Deeds for our Nation Nigeria.

#OBIdient

#Nigeriagosurvive

#peterobiforpresident2023

[winsoftech]

Understanding NPS And Companies Involved In Its Distribution

The NPS is a low-cost pension plan professionally managed by pension funds authorised by the Pension Fund Regulatory and Development Authority of India, a central government agency. It is distributed by financial organisations around the country via software for NPS distribution.

The National Pension System (NPS) is a voluntary, defined contribution retirement savings programme that enables subscribers to make the best decisions for their future by making systematic deposits throughout their working lives. In addition, the NPS aims to instil in residents the habit of saving for retirement. 

It attempts to discover a long-term solution to the challenge of providing appropriate retirement income to every Indian citizen. It is a pure retirement pension plan in which you may get a consistent income with tax benefits after retirement, and with a bit of optional risk, you can significantly boost the profits.

The NPS's central recordkeeping agency provides two broad classifications for Indian residents between the ages of 18 and 65 on the date of application. The Central Government implemented the NPS on January 1, 2004, with exceptions for the military forces. Therefore, all Central Autonomous Bodies (CAB) workers who joined on or after NPS implementation are required to participate in the NPS's government sector. 

Central government employees or the CAB contribute to their pension from their monthly wage, with their employer matching their contribution. Following the Central Government, many State Governments adopted this architecture and implemented the NPS on various dates.

The NPS corporate sector model is a tailored version of the NPS designed to accommodate diverse enterprises and their workers in adopting NPS as an organised entity within the context of their employer-employee relationship. From May 1, 2009, any individual who is not covered by any of the following sectors was able to join the NPS architecture through the All Citizens of India Sector. 

The NPS is available in two tiers: Tier I, which is a pure pension plan, and Tier II, which is an investment plan with some market risk. Investing in a Tier I NPS account is risk-free and has several advantages. 

The minimum amount necessary to start an NPS account is INR 500, and each subscriber may only have one account. In addition, individuals with NPS accounts must make a minimum yearly payment of INR 1000. Tier I NPS is a tax-free investment that is tax-free at all levels of investment and returns.

NPS Tier II is a pure investment scheme that does not provide tax benefits like NPS Tier I. This plan is similar to an open-ended mutual fund. Creating an NPS Tier II account is subject to a few fundamental restrictions.

Your NPS assets are handled by pension fund managers who work in both the public and commercial sectors. Pension fund managers invest whatever money you deposit in stocks, corporate bonds, and government assets, and you receive interest on that money. 

NPS distribution for the private sector is carried out by various private companies offering banking & financial solutions.

[sanjeev-thakur]

What is MGNREGA scheme?

Amid rising cost of living and decreasing job opportunities, people in rural India are falling back on MGNREGA to earn their daily bread.

What is MGNREGA scheme?

The National Rural Employment Act (NREGA), later renamed as Mahatma Gandhi Rural Employment Act (MGNREGA), is regarded as the Indian labour law and social security measure that targets to guarantee people of India the ‘right to work.’ MGNREGA was enacted in September 2005. The above Act was presented by Raghuvansh Prasad Singh, Minister of Rural Development and was enacted by Parliament of India. According to MGNREGA, the Act “ aims to enhance livelihood security in rural areas by providing at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work”.

History & Significance of MGNREGA

In 1991, the Act was proposed by the then Prime Minister of India P.V. Narasimha Rao. After several sessions, the act was finally accepted in the Parliament and implementation started in 625 districts of India. On the basis of this primary experience, NREGA was introduced in all the districts from 01st April, 2008. The Govt of India termed the act as “the largest and most ambitious social security and public works programme in the world.” World Bank coined the term ‘stellar example of rural development’ regarding the MGNREGA.

Objectives of NREGA

To enrich livelihood security in rural areas by giving at least 100 days of guaranteed wage employment in a financial year to all the households whose members aged above 18 years volunteer to do unskilled manual work

To flourish durable assets like roads, canals, ponds and wells

It is required to provide employment within 5 km of an applicant’s home and to pay minimum wage. If the applicant does not get any work within 15 days of applying, an unemployment allowance will be given to them. Moreover, if Govt fails to provide employment, it is bound to give certain unemployment allowances to the people. Hence, it is a legal entitlement to be employed under MGNREGA.

Implementation of MGNREGA

Generally Gram Panchayats (GPs) implement the programmes under MGNREGA. The engagement of contractors/middlemen is strictly prohibited in the programme. NREGA not only provides economic security and rural assets but also helps in protecting the environment, empowering rural women, reducing rural-urban migration, fostering social equity etc. The principles and agencies for execution, list of allowed works, financing pattern, monitoring and evaluation and quintessentially the detailed measures to ensure transparency and accountability are elaborately described in the act.

Women empowerment is one of the greatest aspects in MGNREGA programme. In the programme, one-third of all employment is reserved for the women and there is a provision of equal wage between the men and women. It is also a very good opportunity for the youths of our country. Another merit of MGNREGA is that it develops the bargaining power of labour who often suffers due to exploitative market conditions.

Despite several controversies, MGNREGA can be termed as the best scheme for rural people of India. Thousands of rural people survive their day to day life because of this scheme. One of the major impacts of this scheme is the reduction of migration from rural sector to the urban sector for causal work. MGNREGA not only creates job opportunity but also sustains it.

[khendari]

Koinomo

Koinomo – is a very profitable investment project for everyone

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Founded since 2017 (Koinomo), we have had a real and long-lasting inclusion in the energetic but moderate cryptocurrency market, remarkably making some credible highs and some lows. We guarantee that your theory or your association makes progress in a broader perspective. Improve your work and base.

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The KOINOMO token offers answers to questionable monetary techniques carried out under the current global cash system. Furthermore, the symbolic provides an avenue for changing the equitable distribution of wages in the economy. KOINOMO will focus on the growing collection of KMO tokens. The extended KMO fundraiser will offer asset valuation support which can also help boost and lead to greater capital inflows into the KOINOMO economy.

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What are the aggregates of basic theory? The minimum effort on the FONDI platform is 1 BNB, however if you visit the KOINOMO Broker office, the basic theory total will be much higher. Note that it is not important to come and visit us if you are contributing or have contributed. Due to the extended interest of the line of action, larger customers are simply treated.

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What is your average return? Everything hasn't really been fixed in KMO, which suggests that KOINOMO will likely train your KMO resources. This may require a request, why do you regularly think about KMO based execution? Well, since 2018, smart settings have become the most useful asset on earth. Beat all kinds of things. So it's just with whatever it deems right to add to that enhancement as we'll probably come up with a way to guarantee your size.

Tokenomics Tokenomics: Koinomo Token Ticker: KMO Jaringan: Binance Smart Chain Total Passage: 10,000,000 KMO

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The KOINOMO token offers a solution to the questionable economic policies implemented under the current global monetary system. More than this, tokens provide a pathway to re-establish a fair distribution of cash flows in the economy.

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Khendari https://bitcointalk.org/index.php?action=profile;u=3198782

[your-dietician]

India Supercharged Its Economy 30 Years Ago. Covid Unraveled It in Months

New Post has been published on https://tattlepress.com/economy/india-supercharged-its-economy-30-years-ago-covid-unraveled-it-in-months/

India Supercharged Its Economy 30 Years Ago. Covid Unraveled It in Months

(Bloomberg) — Thirty years ago, on a summer evening in late July, India liberalized its Soviet-style economy in a transformation that eventually pulled about 300 million out of poverty, fueling one of the biggest wealth creations in history.

Then came the world’s fastest coronavirus surge which left overflowing hospitals turning away the dying and crematorium smoke darkening city skies.

Years, and perhaps decades, of progress have been unwound in months, as many Indians who had clawed their way out of poverty face grim job prospects and carry heavy debt loads wracked up to get themselves and loved ones through the pandemic. The devastation has highlighted just how much poor health care and infrastructure — often neglected in the boom after liberalization — are holding back the nation and its people.

More than 200 million have gone back to earning less than minimum wage, or $5, a day, the Bangalore-based Azim Premji University calculates. The middle class, the engine of the consumer economy, shrank by 32 million in 2020, according to the Pew Research Institute. That means India will be regressing on vital fronts just as its global importance is growing.

This decade, India is expected to become the world’s most populated nation, taking that mantle from China, which for years drove global growth. But the Indian economy is grappling with big threats even as it becomes home to the kind of young, working-age population that drove lengthy booms in other nations.

“We’re talking about a decade of lost opportunities and setback,” said Arvind Subramanian, a fellow at Brown University and a former chief economic advisor to Prime Minister Narendra Modi’s administration. “Unless there are some big reforms and fundamental changes in the way economic policy is done, you’re not going to be anywhere close to what we saw in the boom years. A lot needs to happen in order to get back to the 7%, 8% growth that we desperately need.”

Even before the pandemic, cracks had begun to emerge. Modi came to power in 2014 amid voter frustration over scandals and policy paralysis that had contributed to bad loans at banks and threatened to derail Indian growth. Yet, the economy has faced other hurdles in recent years including Modi’s 2016 cash ban, which roiled the informal sector, and a hurriedly implemented new tax system.

Story continues

Modi had pledged to turn India into a $5 trillion economy by 2025, but the pandemic is set to push that back by years. The International Monetary Fund expects India to grow 6.9% in the next fiscal year that starts in April 2022, lower than the more than 8% needed long term to reach Modi’s ambitious target and create jobs for the millions entering the work force.

Jim O’Neill, chairman of Chatham House in London — who coined the term BRICs to describe the emerging markets of Brazil, Russia, India and China while serving as a top Goldman Sachs Group Inc. economist — is these days cautious on India, largely because the government hasn’t made many of the long-term structural changes he believes are needed for it to reach its full potential.

When still at Goldman Sachs, O’Neill says he presented a paper to Modi in 2013, before he became prime minister, recommending 10 things that would allow the Indian economy to be 40 times larger by 2050. The list included making substantial improvements to areas like infrastructure, education, introducing better public-private partnerships in areas like healthcare, further liberalizing financial markets and working on environmental issues. Modi hasn’t fully pursued these ideas, O’Neill said.

“India’s got these fantastic demographics, which should have given it the potential to be rising a lot more strongly, possibly at the same kind of double digit rates China enjoyed for a long time,” O’Neill said. Yet “the Indian system seems to quite often smother itself, as we’ve seen sadly a few times during the Covid pandemic,” he said.

A government spokesperson didn’t respond to request for comment, but the Modi administration has in recent weeks acknowledged the need for longer term changes. “If we are looking at getting growth — of 8%-10% — back on a sustainable path, we have to think about not just a current revival,” Sanjeev Sanyal, the government’s principal economic adviser, said at the India Global Forum on June 30. Structural changes are needed and to that end the government is constantly opening up new sectors of the economy, he said.

Once the fastest-growing major economy, India saw its biggest ever contraction last year — shrinking more than 7% — after a stringent nationwide lockdown. Just when the economy started showing some momentum, another wave of infections hit the nation. This year, the central bank expects India to grow at 9.5%, sharply lower than the double-digit rebound many had earlier expected. That estimate is heavily boosted by the comparison with the sharp contraction of the previous year, and many economists expect it could be pared even further.

Foreign direct investment surged 19% last year, but even that remains lower as a percentage of GDP compared with countries like Singapore and Vietnam. And a big portion of the foreign investment went to billionaire Mukesh Ambani’s digital platforms.

Some experts, including former central bank head Duvvuri Subbarao, have warned of a K-shaped recovery for India, where the rich get richer and poor get poorer. “Growing inequalities are not just a moral issue,” said Subbarao. “They can erode consumption and hurt our long-term growth prospects.”

The of the two richest men in Asia – Ambani and ports magnate Gautam Adani — are Indians, and their net worth has surged as stocks rallied on the back of cheap liquidity worldwide and tax cuts for companies even as economic growth slumped. Meanwhile, overall Indian wealth — or the value of financial and real assets owned by households minus debts — fell by $594 billion, or 4.4%, in 2020, according to Credit Suisse Group AG.

Thirty years ago, India was forced to remake its economy. A mammoth trade deficit and plunging foreign exchange reserves necessitated a loan from the International Monetary Fund. On July 24, 1991, then finance minister, Manmohan Singh, announced major steps to cut tariffs and encourage trade, essentially opening up the economy to the outside world.

In the boom that followed liberalization, growth crossed 8%. Technology giants like Infosys were born and start-ups worth billions are now mushrooming in Bangalore. A new middle class emerged that watched Netflix and shopped online on Amazon. In the south, the Wistron factory won special economic benefits to assemble Apple iPhones. India became the world’s biggest supplier of generic medicines and the Serum Institute of India became the world’s biggest vaccine maker. An Indian exchange now handles the world’s highest number of derivatives contracts.

Yet there were signs that India wasn’t hitting its full potential. Average GDP growth of 6.2% over 30 years has been lower than China’s 9.2% and even lagged Vietnam’s 6.7%. For years, Indians have been living shorter lives and are now earning less on average than people in smaller nations like Bangladesh.

Vast inequities developed. Researchers have found wealthier people in urban areas and from upper castes were taller in India, a sign of development favoring groups that were already advantaged. The percentage of women joining the workforce fell from 30.3% in 1991 to about 21% in 2019, according to data from the International Labor Organization. India’s government spent less than 2% of GDP on healthcare before the pandemic.

“Had the healthcare system not been so neglected for so long, India would have been prepared to face the Covid-19 crisis,” said Jean Dreze, the Belgian-born Indian economist and a lecturer at Delhi University. “Had India built a more robust social security system, the humanitarian toll of the crisis would not have been so catastrophic.”

Unlike the old guard in 1991, Modi has turned the economy more inward, focusing on self-reliance and homegrown companies. Despite championing free trade in global forums, he’s raised tariffs on goods including electronics and medical equipment, partly reflecting global trends.

Some of those decisions came back to haunt India when citizens struggled to import life-saving products like oxygen concentrators during the pandemic. Top scientists wrote to Modi, asking him to reverse protectionist duties imposed on key items needed to study the coronavirus and its variants including the delta one, which now threatens the globe.

After pledging to contribute to global vaccine programs, the Modi government slowed exports of Covid-19 shots, derailing the inoculation program of a World Health Organization-backed initiative.

“India’s ambition of being seen as a major player on the world stage has taken a substantial hit as the pandemic has laid bare the weaknesses in the capacity and competence of its government,” said Eswar Prasad, professor of trade policy at Cornell University.

The key question for global investors now is whether India will get old before Indians get rich. Netflix is counting on India for its next 100 million customers. Bezos is pouring billions of dollars — and even braving Indian courts — to battle India’s richest man Ambani for a slice of the only open retail market with more than a billion people.“The pandemic has set us back hugely, and we were already on a growth downswing when it happened,” said Indira Rajaraman, an economist and a former member of the Reserve Bank of India’s board. “Going forward it all depends on how cleverly we design the way we come out of these doldrums.”

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