President Tinubu has on Independence Day increased the wage for low-grade workers by N25,000 for the next six months as part of measures to ameliorate the effects of current reforms such as fuel subsidy removal and the unification.
The President disclosed this during his maiden Independence Day address to the nation. In the address, President Tinubu underscored the need for Nigerians to be patient with his administration and the reforms they are putting stating they are necessary for progress.
- While explaining the steps the administration is taking to bring succour to Nigerians, the President said, “Based upon our talks with labour, business and other stakeholders we are introducing a provisional wage award 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.”
The President also spoke on the infrastructure support funds for states to enable state government to invest in critical areas and the relief funds provided to state governments.
- He said, “To ensure better grass-root development, we set up an infrastructure support fund for states to invest in critical areas. States have already received funds to provide relief packages against the impact of rising food and other prices”
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On the actions the federal government is taking to provide cheap and affordable transport to Nigerians, the President noted that soon CNG-powered buses will be rolled out across the country.
- In his words, “Making the economy more robust by lowering transport cost shall be key to in this regard, we are opening a new chapter in public transportation through the development of cheaper, safer Compressed Natural Gas (CNG) buses across the nation.
- “These buses will be at a fraction of current prices positively affecting transport fare. The new CNG conversion kit will start coming in very soon as all hands are on deck to fast track the usual lengthy procurement process”
The President’s speech also encompassed the “thorough house cleaning” he promised in the Central Bank stating that the investigative report on the CBN will soon be available
- He said thus, “I pledged a thorough house cleaning of the then malfeasance the CBN has become. That house cleaning is well underway under a new leadership the Central Bank has been constituted. Also, the special investigator will soon present his findings on the past lapses and how to prevent similar recurrences.”
- “Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful”
CBN First.
Please, asir. NNPCL should be cleaned too.
I admire your courage and style of governance.
We are all praying for you and the progress of Nigeria