President Bola Tinubu has approved a provisional wage increment for workers in the country as part of efforts to cushion the effect of the fuel subsidy removal.
Tinubu made this known in his address to Nigerians on the 63rd Independence Anniversary of the country on Sunday.
The President said the average low-grade worker would receive an additional N25,000 per month for the next six month.
He said: “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.”
The President said that the present administration was committed to relieving the hardship faced by Nigerians, adding that various measures had been taken by all tiers of government to mitigate them.
Tinubu added: “There is no joy in seeing the people of this nation shoulder burdens that should have been shed years ago. I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future.
“We have embarked on several public sector reforms to stabilize the economy, direct fiscal and monetary policy to fight inflation, encourage production, ensure the security of lives and property and lend more support to the poor and the vulnerable.
“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.”
President Tinubu said other efforts were being taken by government to touch all aspects that would impact directly on the lives of Nigerians to ease the pains of the new economic reforms.
The President said that on the issue of transportation, cheaper and safer Compressed Natural Gas buses would be deployed across the country.
He added: 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 ground breaking moment where, as a nation, we embrace more efficient means to power our economy. In making this change, we also make history.”