In an effort to ameliorate the pain brought on by the loss of fuel subsidies, President Bola Tinubu has approved a salary increase of N25,000 for workers in the nation.
Workers would receive the interim salary boost for the following six months, according to Tinubu.
On Sunday, October 1, 2023, as part of the celebrations for Nigeria’s 63rd anniversary of independence, the President made this announcement during his nationwide broadcast in Abuja.
For the following six months, the typical low-grade employee will receive an extra 25,000 per month, according to Tinubu.
In order to raise the federal minimum wage without triggering excessive inflation, we are establishing a provisional salary rise based on our discussions with labor, business, and other stakeholders.
The average low-grade worker will receive an extra 25,000 per month for the following six months, he declared.
As a result of this temporary measure, federal government employees’ national minimum wage will increase from 33,000 to 55,000 throughout the time frame specified by the President.
In addition, Tinubu reaffirmed his administration’s commitment to easing the suffering of Nigerians, noting that numerous steps had been made to do so by all levels of government.
There is no delight in seeing the citizens of this country bear burdens that ought to have been borne long ago. I wish the challenges of today did not exist. But if we want to go to the bright side of our future, we must persevere.
“We have started a number of public sector reforms to stabilize the economy, direct fiscal and monetary policy to combat inflation, promote production, secure the safety of people and property, and provide more assistance to the weak and the needy.
We established an Infrastructure Support Fund for states to invest in important regions in order to enable stronger grassroots development. According to the President, money have already been distributed to states to help them offset the effects of rising food and other prices.
In order to lessen the pain of the new economic changes, he continued, further measures were being taken by the government to touch all areas that would directly affect Nigerians’ lives.
According to the president, buses powered by compressed natural gas will be used nationwide and will be more affordable and safe.