Keeping Up With Your Investments As we move through October, it’s time for our monthly update on Nelfund activities and performance. Whether you’re a seasoned investor or just starting your journey with Nelfund, staying informed is key to making the most of your investment opportunities. Platform Enhancements T his month, Nelfund has focused on improving platform stability and user experience. Updates include faster load times, smoother navigation, and enhancements to the dashboard that allow investors to track their portfolio more efficiently. These improvements ensure that you can monitor your investments and make decisions with ease. Investment Performance October has seen steady growth across several projects funded through Nelfund. Our diversified portfolio approach continues to show positive returns, and the monthly yield updates have been shared in your dashboard. For new investors, this is a great time to explore projects with consistent performance metrics and transparen...
## BLACKOUT LOOMS: AEDC Workers Issue Fresh Strike Notice Over Unresolved Grievances
**Abuja, Nigeria – June 5, 2025** – Residents and businesses across the Federal Capital Territory (FCT), Niger, Nasarawa, and Kogi states are bracing for a potential total blackout as electricity workers under the Abuja Electricity Distribution Company (AEDC) have issued a fresh strike notice. This development comes as two major unions, the National Union of Electricity Employees (NUEE) and the Senior Staff Association of Electricity and Allied Companies (SSAEAC), accuse AEDC management of failing to honor agreements reached following a suspended industrial action in November 2024.
**Why the Looming Strike? A Litany of Unfulfilled Promises**
The unions, in separate letters to AEDC's Managing Director, have highlighted a long list of unresolved issues that have pushed their members to the brink. These grievances paint a stark picture of a workforce feeling neglected and exploited despite their significant contributions to the company's revenue. Key points of contention include:
* **Non-remittance of Pension Deductions:** A staggering 16 to 18 months of pension deductions remain unremitted, raising serious concerns about the financial security of workers.
* **Non-implementation of National Minimum Wage:** Despite the national minimum wage being signed into law, AEDC workers claim it has not been fully implemented, impacting their take-home pay.
* **Lack of Promotions and Stagnation:** Many staff members have reportedly been stagnant for over 10 years with no promotions, leading to low morale and limited career progression.
* **Non-confirmation of Acting Appointments and Irregular Placements:** Workers on acting appointments are not being confirmed, and there are complaints of improper staff placements.
* **Refusal to Convert Ad-hoc Staff to Permanent Status:** A significant number of ad-hoc staff are still awaiting conversion to permanent status, denying them benefits and job security.
* **Collapse of Health Services:** The unions allege a complete collapse of health services for staff due to unpaid hospital bills, with reports even citing several staff deaths in recent months attributed to pressure and precarious work conditions.
* **Unpaid PAYE Taxes and Union Dues:** Non-remittance of 10 months' PAYE taxes and outstanding union check-off dues are also key issues.
* **Incomplete Review of Conditions of Service and Career Path:** The review of conditions of service and implementation of a career path for staff remain incomplete.
* **Undue Board Interference:** The unions also pointed to undue board interference in the day-to-day running of the company.
* **Non-payment of 2024 Productivity Bonus:** Despite workers reportedly generating over N94 billion in revenue for the company in the last 90 days, the 2024 productivity bonus remains unpaid.
**Ultimatums Issued, Mobilization Underway**
NUEE, through its Assistant General Secretary, Liaison, Opaluwa Eleojo Simeon, stated their readiness to resume the suspended action "anytime from the date of the receipt of this letter without an additional notice." They have directed their councils to commence full mobilization across all AEDC franchise areas (Kogi, Nasarawa, Niger, and FCT) for an effective industrial action, vowing to sustain the struggle until victory is achieved.
Similarly, SSAEAC, represented by its Deputy General Secretary (Corporate Communications), Rosemary Odeh, issued a two-week ultimatum to AEDC management, demanding the resolution of all outstanding staff benefits and issues. They emphasized that if demands remain unmet within the stipulated period, all officers are on standby to resume the earlier strike notice of November 5, 2024.
**The Road Ahead: Uncertainty for Consumers**
As of today, June 5, 2025, while a full-blown strike has not yet commenced, the notices issued by both unions signify escalating labor tensions at AEDC. The threat of a widespread blackout is very real, putting millions of electricity consumers in AEDC's franchise areas on edge.
The ball is now in AEDC management's court. The urgency to address these long-standing grievances cannot be overstated, not just for the welfare of their dedicated workforce, but also to prevent a significant disruption to electricity supply that would impact countless homes and businesses.
We will continue to monitor the situation closely and provide updates as they unfold. For now, residents in the affected states are advised to make alternative power arrangements as a precautionary measure.
It is well
ReplyDelete