In his Independence Day broadcast to the nation, President Bola Tinubu announced a significant wage increase for low-grade workers in Nigeria, aimed at alleviating the economic challenges faced by the citizens. This salary increment, lasting for a period of six months, will provide an additional N25,000 per month to the average low-grade worker.
President Tinubu acknowledged the hardships experienced by Nigerians, especially in the wake of the removal of subsidies and changes in foreign exchange policies. He expressed his commitment to addressing these challenges, stating that he had a deep understanding of the difficulties faced by the people.
Tinubu emphasized that the reforms he was implementing were necessary to lay the foundation for a stronger and more prosperous Nigeria. He likened those who resisted such reforms to individuals who would build their family mansions in a swamp, emphasizing his dedication to constructing the nation’s future on safe and solid ground.
The president acknowledged that reforms might be painful but stressed that they were essential for achieving greatness and securing a better future for all citizens. He envisioned a Nigeria where the nation’s wealth was fairly shared among the population, eradicating hunger, poverty, and hardship.
President Tinubu highlighted the measures his government had taken to mitigate the economic challenges, including public sector reforms, fiscal and monetary policies to combat inflation, and support for the poor and vulnerable. He also announced the introduction of a provisional wage increment to enhance the federal minimum wage without causing undue inflation.
Furthermore, the president discussed initiatives to lower transportation costs, such as the deployment of Compressed Natural Gas (CNG) buses, which would positively impact transport fares and reduce the financial burden on citizens.
Tinubu concluded by expressing his commitment to eliminating poverty, terrorism, and other forms of criminality in Nigeria through various government programs and policies. He emphasized the importance of a new era in the nation’s defense and security strategy, marked by a resolute commitment to confront regional threats and challenges within the West African sub-region.