Expands Cash Transfer To 15m Poor Households
BY CHIKA OKEKE, Abuja
President Bola Tinubu has announced a provisional wage increment for workers under the Federal Government payroll without causing undue inflation.
This implies that low-grade workers are expected to receive an additional N25, 000 naira per month for the next six months in addition to their monthly salary, amounting to N55, 000.
The President, who stated this while addressing the nation on 63rd Independence Anniversary celebration on Sunday, disclosed that the decision was reached based on talks with labour unions, business and other stakeholders.
This comes barely 48-hours to the planned nationwide strike by the Nigeria Labour Congress and Trade Union Congress of Nigeria due to the hardship caused by the removal of fuel subsidy and other sundry issues.
Tinubu hinted that the Federal Government has set up Infrastructure Support Fund for states to invest in critical areas in order to boost development at the grassroots.
He noted that states have already received funds to provide relief packages against the impact of rising food and other prices.
“Making the economy more robust by lowering transport costs will be key. In this regard, we have opened a new chapter in public transportation through the deployment of cheaper, safer Compressed Natural Gas (CNG) buses across the nation. These buses will operate at a fraction of current fuel prices, positively affecting transport fares,” the President added.
He assured that the new CNG conversions kits would be available soon as all hands are on deck to fast track the lengthy procurement process.
In addition, he informed that the Federal Government is also setting up training facilities and workshops across the nation to train and provide new opportunities for transport operators and entrepreneurs.
Describing the measures as ground breaking moment, Tinubu harped on the need for Nigerians to embrace more efficient means to power the economy.
The President recalled that he pledged a thorough housecleaning of the Central Bank of Nigeria (CBN) which he described as a den of malfeasance, adding that the housecleaning is underway.
He stated that his special investigator would soon present his findings on past lapses and how to prevent similar reoccurrences at the CBN, noting that henceforth, monetary policy would benefit all and would no longer be restricted to the powerful and wealthy.
“Wise tax policy is essential to economic fairness and development. I have inaugurated a Committee on Tax Reforms to improve the efficiency of tax administration in the country and address fiscal policies that are unfair or hinder the business environment and slow our growth.
“To boost employment and urban incomes, we are providing investment funding for enterprises with great potential. Similarly, we are increasing investment in micro, small and medium-sized enterprises, ” he said.
In its determination to lessen the burden of subsidy removal on Nigerians, the President also announced the expansion of cash transfer programmes to an additional 15 million vulnerable households beginning from November, 2023.
He promised that his administration would priortise the safety of the people.
Tinubu stated that Inter-service collaboration and intelligence sharing have been enhanced, adding that the Service Chiefs have been tasked with the vital responsibility of rebuilding the capacities of security services.
The President commended the gallant security forces for keeping the country safe and securing the territorial integrity.
“Many have paid the ultimate sacrifice. We remember them today and their families. We shall equip our forces with the ways and means needed to perform their urgent task on behalf of the people,
“We shall continue to make key appointments in line with the provisions of the Constitution and with fairness toward all. Women, youth and the physically challenged shall continue to be given due regard in these appointments.
“May I take this opportunity to congratulate the National Assembly for its role in the quick take-off of this administration through the performance of its constitutional duties of confirmation and oversight.
“I also thank members of our dynamic civil society organisations and labour unions for their dedication to Nigerian democracy. We may not always agree but I value your advice and recommendations. You are my brothers and sisters and you have my due respect,” Tinubu added.
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