President Bola Ahmed Tinubu has said that an average low-grade worker shall receive an additional N25,000 per month for the next six months.
The president declared this on Sunday in his nationwide broadcast as part of the programme of events marking Nigeria’s 63rd Independence anniversary celebration.
He said “Based on our talks with labour, business and other stakeholders, we are introducing a provisional wage increment to enhance the federal minimum wage without causing undue inflation. For the next six months, the average low-grade worker shall receive an additional N25,000 per month.”
He said the decision was taken as part of steps to relieve the stress on families and households after the removal of fuel subsidy and unification of exchange rates.
“We have embarked on several public sector reforms to stabilise the economy, direct fiscal and monetary policy to fight inflation, encourage production, ensure the security of lives and property and lend more support to the poor and the vulnerable.”
The president said the social safety net was being extended through the expansion of cash transfer programmes to an additional 15 million vulnerable households, commencing from this month, adding that “States have already received funds to provide relief packages against the impact of rising food and other prices.”
President Tinubu said the government had also opened a new chapter in public transportation through the deployment of cheaper, safer Compressed Natural Gas (CNG) buses across the country, adding that “These buses will operate at a fraction of current fuel prices, positively affecting transport fares.
He addresses the nation at 07:00 am.
