The Federal government has declared Friday, May 1, a public holiday to commemorate this year’s International Workers’ Day.

The Minister of Interior, Olubunmi Tunji-Ojo, made the announcement on behalf of the government.

In a statement signed by the Permanent Secretary of the ministry, Magdalene Ajani, the minister congratulated workers nationwide, commending their commitment and contributions to national development.

He noted that the dedication of Nigerian workers remains vital to the country’s growth and economic progress, urging them to sustain values of patriotism, productivity and diligence.

Tunji-Ojo also reaffirmed the government’s commitment to improving workers’ welfare, enhancing security and creating an enabling environment for economic expansion.

He called on Nigerians to remain peaceful and law-abiding during the celebration, encouraging citizens to reflect on the importance of unity and hard work in nation-building.

The Trade Union Congress (TUC) has expressed concern over the rising pressure on workers’ welfare and economic conditions of the country.

The Congress warned that it would embark on nationwide protest, if there is no improvement.

The warning was conveyed in in a communiqué jointly signed by the TUC President, Mr. Festus Osifo, and Secretary-General, Mr. Nuhu Toro, at the end of its National Executive Council (NEC) meeting in Abuja.

The Congress said the NEC meeting reviewed the state of the nation, developments within the congress, preparations for the 2026 May Day celebration, and other critical issues affecting Nigerian workers.

“The prevailing economic hardship has significantly affected the living standards of Nigerian workers, making daily survival increasingly difficult.

“We are closely monitoring the situation, and if there is no improvement, the congress will have no option but to mobilise workers in defence of their welfare.

“Government must urgently take concrete steps to address the rising cost of living and restore confidence in the economy,” it said.

The Congress said rising fuel prices, inflation, electricity tariff increases and insecurity had combined to erode workers’ purchasing power and living standards.

It noted that global developments, including the Iran–U.S. conflict, were further worsening economic pressures through higher energy costs and supply chain disruptions.

According to the TUC, Nigerian workers have not benefited from higher global oil prices but continue to face rising costs of transportation, food and essential services.

It urged the Federal Government to deploy excess crude revenue to cushion economic shocks and support vulnerable citizens.

The congress also called for urgent measures to stabilise fuel prices, improve electricity supply, and address insecurity nationwide.

It emphasised the need for policies that promote decent work, job security and social protection.

“The government must prioritise the welfare, dignity and security of Nigerian workers in all policy decisions,” it said.

The TUC further called for tax relief for manufacturing companies and workers to ease economic pressure and stimulate productivity.

On electricity, it condemned repeated tariff increases without improved service delivery and demanded fair pricing, universal metering, and an end to estimated billing.

The congress expressed concern over rising insecurity, describing it as a major threat to economic activities and workers’ safety.

It urged government at all levels to adopt coordinated, intelligence-driven strategies to protect lives, farms, businesses and critical infrastructure.

“A stitch in time saves nine,” the communiqué added.

The House of Representatives has approved President Bola Tinubu’s request to borrow Five Hundred and Sixteen Million, Three Hundred and Thirty-three Thousand, seven ($516,333,007) US dollars in syndicated financing from Deutsche Bank AG.

The House approved it during the plenary on Tuesday in Abuja after the presentation of a report by the deputy chairman of the House Committee on Aids, Loans, and Debts Management, Abdullahi Rasheed.

The money is expected to fund the construction of sections of the Sokoto–Badagry Super Highway.

President Tinubu wrote to the lawmakers, seeking a $516.3 million loan from Deutsche Bank to support the construction of the road.

The president said the loan, to be sourced from a syndicated financing facility by Deutsche Bank, will fund sections 1, 1A, and 1B of the project, which covers about 120 kilometres.

Tinubu requested a resolution in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to enable the federal government to secure the financing for Sections 1, Phase 1A, and Phase 1B of the project.

The project is a flagship initiative of Tinubu’s Renewed Hope Agenda and is targeted at enhancing national connectivity, improving the movement of goods across key economic corridors, and drastically shrinking travel time.

The 1,000-kilometre project will link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, connecting Illela to Badagry.

According to him, the financing arrangement will be backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

He said the Federal government will provide counterpart funding of over N265 billion for land acquisition, compensation, and related infrastructure.

The former Lagos governor said the loan is structured for nine years and includes a three-year grace period.

It has an interest rate pegged at the Chicago Mercantile Exchange SOFR plus 5.3 per cent per annum.

Already, the Federal Executive Council has approved the financing plan.