Emmanuel OchayiIn a surprising move during his Independence Day address, President Tinubu announced a significant wage increase for low-grade workers, to provide much-needed relief amidst ongoing reforms.
The President emphasized the importance of patience during these times of change, asserting that these reforms are essential for progress.
President Tinubu stated, “Based upon our talks with labor, 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.”
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He also unveiled plans for cheaper and more affordable transportation options, revealing the impending rollout of CNG-powered buses across the nation. The President’s commitment to lowering transport costs aims to strengthen the economy and positively impact transport fares.
“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,” President Tinubu explained.
Furthermore, the President also hinted at the creation of an infrastructure support fund for states to invest in critical areas and the provision of relief funds to state governments to combat the rising costs of food and other essential goods.
“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,” he stated.
President Tinubu also hinted at a “thorough house cleaning” in the Central Bank, with an investigative report on the CBN’s operations expected to be available soon. This announcement reflects the government’s commitment to transparency and accountability in its financial institutions.
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