Victor Ezeja
As part of measures to mitigate the current economic hardship faced by Nigerians, President Bola Tinubu has assured workers that review of salaries would be done.
Tinubu, who gave the assurance during his nationally televised address on Monday, said his government is aware of the tough economic situation the citizens currently face, especially because of the removal of subsidy on petrol which caused a hike in price of the commodity and general cost of things.
Join our WhatsApp ChannelThe president’s address which comes two months after he took an oath of office, was to clarify issues concerning the economic challenges faced by the citizens and his administration’s plans to take the country out of the woods.
READ ALSO: Subsidy: FG To Give ₦75bn To 75 Companies To Boost Production – Tinubu
He said previous administrations spent trillions of Naira on subsidy payments which benefited only a few in the elite circle, hence the need for it to go.
According to him, the Federal Government has so far saved over three trillion Naira since the subsidy regime ended.
He said he made a promise to promote the welfare of Nigerians and remains committed to that.
He said that in line with the pledge his administration is working in collaboration with Labour unions to introduce a new national minimum wage for workers, adding “I want to tell our workers this: your salary review is coming.”
Tinubu said that once they agree on the new minimum wage and a general upward review is done, a budget provision for it would be made for “immediate implementation.”
Tinubu noted that it was in the light of his quest to improve the welfare of the citizens that he approved the Infrastructure Support Fund for the States to intervene in critical areas and bring relief to them as well as revamp decaying healthcare and educational Infrastructure.
FG to Roll Out 3,000 Units of CNG Vehicles
Tinubu further disclosed that his government also plans to roll out buses across the 36 states and 774 local governments for mass transit at a much more affordable rate. “We have made provision to invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fuelled buses.
“These buses will be shared to major transportation companies in the states, using the intensity of travel per capita. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period,” he explained.
The president noted that citizens are facing hard times but urged them to look beyond the present “temporary pains” and aim at the long-term gains that his administration’s plans would bring.
He said that in line with his quest to reform the economy, he embarked on the removal of Subsidy and ending multiple exchange rate regimes, which did not help the country.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
