President Bola Tinubu has said that his administration is introducing a provisional wage increment to enhance the federal minimum wage without causing undue inflation.
To this end, the President said for the next six months, the average low-grade worker shall receive an additional N25,000 per month.
He promised a thorough housecleaning of the Central Bank of Nigeria, CBN, which he described as the den of malfeasance, adding that his special investigator will soon present his findings on past lapses and how to prevent similar reoccurrences.
These among others were contained in Tinubu’s nationwide broadcast, this morning, to mark Nigeria’s 63rd Independence Anniversary.
The President commended the founding fathers and mothers of the country, stressing that without them,there would be no modern Nigeria.
He, however, was silent on the indefinite strike by the Organized Labour expected to commence on Wednesday, October 3.
He said, “This year, we passed a significant milestone in our journey to a better Nigeria. By democratically electing a 7th consecutive civilian government, Nigeria has proven that commitment to democracy and the rule of law remains our guiding light.
“At my inauguration, I made important promises about how I would govern this great nation. Among those promises were pledges to reshape and modernize our economy and to secure the lives, liberty and property of the people.
“I said that bold reforms were necessary to place our nation on the path of prosperity and growth. On that occasion, I announced the end of the fuel subsidy.
“I am attuned to the hardships that have come. I have a heart that feels and eyes that see. I wish to explain to you why we must endure this trying moment.
“Those who sought to perpetuate the fuel subsidy and broken foreign exchange policies are people who would build their family mansion in the middle of a swamp.
“I am different. I am not a man to erect our national home on a foundation of mud. To endure, our home must be constructed on safe and pleasant ground.
“Reform may be painful, but it is what greatness and the future require. We now carry the costs of reaching a future Nigeria where the abundance and fruits of the nation are fairly shared among all, not hoarded by a select and greedy few. A Nigeria where hunger, poverty and hardship are pushed into the shadows of an ever fading past.
“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.
“My government is doing all that it can to ease the load. I will now outline the path we are taking to relieve the stress on our families and households.”
