President Bola Tinubu has unveiled the provisional wage increment, a plan that will see the least paid Nigerian worker earning an additional N25,000 for the next six months.
President Tinubu, who unveiled this in his televised nationwide broadcast, marking the occasion of Nigeria’s 63rd Independence Anniversary, also disclosed that the plan was based on talks with the organised Labour, business and other stakeholders.
The Federal Government’s provisional wage increment is coming two days ahead of an impending nationwide indefinite strike called by the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) in protest of worsening economic crisis, occasioned by fuel subsidy removal.
The Federal Government has, however, in the last few days, made attempts at dissuading the organised Labour from embarking on a strike, considering the fragile state of things across sectors. Besides government, other stakeholders have appealed to Labour to shelf strike plans.
However, responding to Labour in his Independence Anniversary speech, President Tinubu, who lauded the Organised body for its contributions to democracy, reeled out plans, beyond the wage increment, to tackle the harsh conditions currently facing the nation.
“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 Twenty-Five Thousand naira per month.
“To ensure better grassroots 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.
“Making the economy more robust by lowering transport costs will be key. In this regard, we have opened a new chapter in public transportation through the deployment of cheaper, safer Compressed Natural Gas (CNG) buses across the nation. These buses will operate at a fraction of current fuel prices, positively affecting transport fares.
“New CNG conversions kits will start coming in very soon as all hands are on deck to fast track the usually lengthy procurement process. We are also setting up training facilities and workshops across the nation to train and provide new opportunities for transport operators and entrepreneurs.
“This is a groundbreaking moment where, as a nation, we embrace more efficient means to power our economy. In making this change, we also make history,” he said .