Nigerian govt introduces provisional wage increment

In his address to the nation on the occasion of Nigeria’s 63rd Independence Anniversary, President Bola Tinubu announced several measures aimed at easing the economic burden on Nigerians following the removal of fuel subsidy. President Tinubu stated that the average low-grade worker would receive an additional N25,000 per month for the next six months as a provisional wage increment to enhance the federal minimum wage without causing undue inflation.

This move is part of the government’s efforts to provide relief to the citizens amid the economic reforms. He emphasized the administration’s commitment to stabilizing the economy, fighting inflation, encouraging production, ensuring the security of lives and property, and providing support to the poor and vulnerable. T

o achieve better grassroots development, an Infrastructure Support Fund was established for states to invest in critical areas, with states already receiving funds to provide relief packages against the impact of rising food and other prices. Addressing the transportation challenges, President Tinubu announced the deployment of cheaper and safer Compressed Natural Gas (CNG) buses across the country.

These buses would operate at a fraction of current fuel prices, positively impacting transport fares. Additionally, new CNG conversion kits would be made available soon, and efforts were underway to expedite the procurement process.

Training facilities and workshops would also be set up nationwide to provide new opportunities for transport operators and entrepreneurs. President Tinubu described these initiatives as groundbreaking moments, marking a shift towards more efficient means to power the economy while also making history in the process.

He acknowledged the difficulties faced by Nigerians but stressed the necessity of enduring these challenges for a brighter future.