President Bola Tinubu has revealed a wage boost of N25,000 for low-grade civil servants in response to the fuel subsidy removal policy, which aims to alleviate their financial burdens. This announcement was made during his Independence Day broadcast to the nation and is set to last for six months.
In addressing the ongoing challenges faced by Nigerians and the impending indefinite strike by organized labor, Tinubu expressed his empathy, stating that he understands the hardships being endured. He emphasized his commitment to creating a strong foundation for the nation’s future rather than perpetuating unsustainable policies.
Tinubu further stressed the necessity of reform, even though it may involve temporary pain, as it is essential for the nation’s progress and prosperity. He envisioned a future Nigeria where the nation’s wealth is equitably distributed among all citizens, leaving hunger, poverty, and hardship behind.
To mitigate the current difficulties faced by citizens, the government has initiated several public sector reforms aimed at stabilizing the economy, combating inflation, supporting production, ensuring security, and providing assistance to the vulnerable. As part of these efforts, a provisional wage increment has been introduced, enhancing the federal minimum wage without causing excessive inflation. Over the next six months, the average low-grade worker will receive an additional Twenty-Five Thousand naira per month.
Additionally, an Infrastructure Support Fund has been established to enable states to invest in critical areas and provide relief packages to counter rising food prices.
To make the economy more resilient and reduce transportation costs, the government has introduced Compressed Natural Gas (CNG) buses across the country. These buses operate at a significantly lower cost than traditional fuel, positively impacting transport fares. Plans are also underway to fast-track the procurement of new CNG conversion kits, and training facilities and workshops are being established to empower transport operators and entrepreneurs.
Tinubu concluded his Independence Day broadcast by emphasizing that these changes represent a significant shift toward a more efficient means of powering the nation’s economy, underscoring the importance of reform and progress.