The Government Increases Minimum Wage Amidst Worker’s Looming Strike.
The government of Nigeria through President Bola Tinubu has announced a six-month increase to the minimum as workers are set to stage to streats.
To cope with the substantial increase in the cost of living since Mr. Tinubu assumed power in May 2023, unions want the monthly wage to be increased to $255 (£210).
The president’s $32 raise only raises the minimum monthly wage to $70.
In order to combat the recent tripling of fuel prices, he also promised to hasten the implementation of affordable gas-powered buses.
This was brought on by Mr. Tinubu eliminating a fuel subsidy that had kept the cost of gasoline low in Africa’s biggest economy for decades.
The nation also let up its currency peg in June, which allowed it to trade freely and caused one of the greatest drops in the naira’s history.
Because of the rise in import prices, already severe inflation has become even worse for poor Nigerians.
The president laid out measures that, in his opinion, would shield people from the current economic suffering in a televised national address to commemorate the nation’s 63rd year of independence from the UK.
According to Mr. Tinubu, “There is no joy in seeing the people of this country bear burdens that ought to have been shed years ago.”
“I wish the challenges of today didn’t exist. But if we want to go to the bright side of our future, we must persevere.
The 71-year-old added that although reform would be difficult, it would be worthwhile because the government could now invest the billions saved from the fuel subsidies in initiatives like the compressed natural gas bus system.
He remarked, “We now bear the burden of achieving a future in Nigeria where the riches and fruits of the nation are fairly shared among all, not hoarded by a select and greedy few.
“A Nigeria where poverty, hunger, and hardship are relegated to the dim shadows of a rapidly disappearing past.”
The two major labor organizations, the Trade Union Congress (TUC) and the Nigeria Labour Congress (NLC), announced that they would start the anticipated indefinite strike on Tuesday.
The union leaders argued that the administration had done nothing to alleviate the misery brought on by the elimination of the fuel subsidy.
To give more time for negotiations, the government had pleaded with them to call off the strike.
