President Tinubu Announces Provisional Wage Increase Amid Fuel Subsidy Removal

President Bola Tinubu has taken measures to alleviate the impact of fuel subsidy removal by approving a provisional wage increase for Nigerian workers. In his address to the nation on the 63rd Independence Anniversary, President Tinubu explained that this move was aimed at minimizing the economic burden on the average low-grade worker.

Under this provisional increment, low-grade workers will receive an additional N25,000 per month for the next six months. The president emphasized that these measures were the result of consultations with labor unions, businesses, and other stakeholders and were designed to boost the federal minimum wage without triggering excessive inflation.

President Tinubu expressed his commitment to alleviating the hardships faced by Nigerians and highlighted various measures taken by all levels of government to mitigate these challenges. He acknowledged the burden that the removal of fuel subsidies had placed on the people and stated that public sector reforms had been initiated to stabilize the economy.

Efforts were directed towards fiscal and monetary policies to combat inflation, promote production, ensure security, and support the less privileged. The Infrastructure Support Fund was established to assist states in investing in crucial areas, and funds were provided to states for relief packages to counter the impact of rising prices.

President Tinubu also addressed transportation issues, revealing plans to introduce cheaper and safer Compressed Natural Gas (CNG) buses across the country. These CNG buses would operate at significantly lower fuel costs, positively affecting transport fares. He also mentioned the establishment of training facilities and workshops to create new opportunities for transport operators and entrepreneurs.


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