Tinubu said the provisional wage increment will be paid to workers for the next six months.
On Sunday, October 1, 2023, as part of the celebrations for Nigeria’s 63rd anniversary of independence, the President made this announcement during his nationwide broadcast in Abuja.
For the following six months, the typical low-grade employee will receive an extra 25,000 per month, according to Tinubu.
In order to raise the federal minimum wage without triggering excessive inflation, we are establishing a provisional salary rise based on our discussions with labor, business, and other stakeholders.
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”In order to stabilize the economy, direct fiscal and monetary policy to combat inflation, boost production, ensure the security of lives and property, and provide more assistance to the weak and disadvantaged, we have started a number of public sector reforms.
We established an Infrastructure Support Fund for states to invest in important regions in order to enable stronger grassroots development. According to the President, money have already been distributed to states to help them offset the effects of rising food and other prices.
In order to lessen the pain of the new economic changes, he continued, further measures were being taken by the government to touch all areas that would directly affect Nigerians’ lives.
In order to lessen the pain of the new economic changes, he continued, further measures were being taken by the government to touch all areas that would directly affect Nigerians’ lives.
According to the president, buses powered by compressed natural gas will be used nationwide and will be more affordable and safe.
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