Tinubu Declares A Temporary Salary Increase For Low-Grade Workers for some workers in the country.

    In his first Independence Day speech, the President made the hike known on Sunday. The salary hike is intended to mitigate the consequences of the elimination of fuel subsidies, which have increased the cost of living in the nation.

    President Tinubu stated: “Based on our discussions with labor, business, and other stakeholders, we are introducing a provisional wage increment to raise the federal minimum wage without unjustified inflation.”

    “The average low-grade worker shall receive an additional 25,000 naira per month for the next six months.”

    Nigerians have struggled as a result of the elimination of subsidies, which has caused the price of gasoline to increase from less than N200 to over N550 in some regions and more than N600 in others. Additionally, citizens have had to contend with the effects of a drastically depreciated naira.

    Tinubu Declare
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    The President pleaded for patience, saying that his government “is doing all it can to lighten the load,” despite labor unions’ threats to strike over the hardships endured by millions.

    He declared, “There is no delight in seeing the people of this country bear burdens that ought to have been borne years ago.

    “I wish the challenges of today didn’t exist. But if we want to see the bright side of our future, we must persevere.

    The president also disclosed other measures it has taken to assist, in addition to the salary boost for a chosen group of workers.

    Implementing public sector reforms is one of them, which will help “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.”

    The infrastructural support fund established by the federal government for states to invest in crucial sectors was also mentioned by President Tinubu.

    With the cost of transportation skyrocketing, the withdrawal of fuel subsidies has a direct influence on the transportation sector.

    The President explained that steps have also been taken to improve the situation in the transport sector, stressing that decreased transportation costs will enhance the economy.

    With the introduction of less expensive, safer compressed natural gas (CNG) buses around the country, we have, in this regard, begun a new chapter in public transportation, he claimed.

    “These buses will run at a fraction of the cost of current fuel, which will lower transportation costs.

    “New CNG conversion kits will start arriving very soon,” according to the statement. “All hands are on deck to speed up the customarily drawn-out procurement process.”

    Tinubu Declares
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    As part of its efforts, the government is also expanding its cash distribution program.

    The President stated that beginning this month, the social safety net would be expanded to include 15 million more needy households through the expansion of cash transfer programs.

    A comprehensive housecleaning of the CBN, which the President claims has turned into “the den of malfeasance,” is one of the additional measures the administration is taking.

    That housecleaning is already under way, he said. The Central Bank has a new executive team in place. Additionally, my special investigator will shortly provide his findings on previous mistakes and recommendations for avoiding repeating them.

    “Monetary policy shall henceforth be for the benefit of all and shall not be the sole preserve of the powerful and wealthy.”

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