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Sunday, December 10, 2023

Tinubu Announces 25,000 Naira Increase in Minimum Wage for 6-Months

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President Bola Tinubu announced a temporary 25,000 naira wage increase among a set of measures aimed at cushioning the impact of reforms on citizens and averting a strike scheduled to start on Tuesday.

Nigeria is “introducing a provisional wage increment to enhance the federal minimum wage without causing undue inflation,” President Bola Tinubu said in a broadcast on Sunday to mark Nigeria’s independence anniversary.

“For the next six months, the average low-grade worker shall receive an additional 25,000 naira per month,” he said.

Beside the wage increase, the government also plans to reduce transport costs by deploying buses fueled by low-cost compressed natural gas, Tinubu said.

It will also provide funds to support small businesses and expand the cash transfer register, aimed at helping economically vulnerable Nigerians, by adding an additional 15 million households.

The Nigerian leader also said that the special investigator appointed to unravel alleged lapses by former central bank governor Godwin Emefiele will soon present his findings and recommendations on how to prevent recurrences.

“I am attuned to the hardships that have come,” Tinubu said. “I have a heart that feels and eyes that see.”

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