- The federal government has made some critical changes to its palliative structure after a crunch meeting with leaders of organised labour
- As President Bola Ahmed Tinubu approved, 15 million households would be given a monthly stipend of N25,000 from October to December 2023
- Similarly, the federal government announced a wage increment for all treasury-paid federal government workers for six months
This is on the heels of the planned indefinite nationwide strike by organised labour slated for Tuesday, October 3.
According to a statement by Mallam Mohammed Idris, the Minister of Information and National Orientation, President Tinubu, represented by his Chief of Staff, Femi Gbajabiamila, reached a compromise with the leaders.
Some of the agreements reached by both parties include:
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1. Wage Increment
As reported by Legit.ng, the N25,000 increment would be applied to low-grade civil servants.
Meanwhile, Dada Olusegun, President Tinubu's special assistant on social media, confirmed that the N35,000 provisional wage increment is now for all treasury-paid federal government workers and will last for six months.
2. Reformed Transportation
As contained in the Federal Ministry of Information and National Orientation statement, an agreement was reached to fast-track the provision of Compressed Natural Gas (CNG) buses.
This new initiative is expected to ease public transportation difficulties associated with the removal of PMS subsidy.
The federal government said the initiative would be applied nationwide.
3. Funds for small business
For a sustainable economy and self-dependency of citizens, the federal government also agreed to bankroll micro and small-scale enterprises.
Although the fund earmarked for this initiative has yet to be announced, it is expected to be disbursed nationwide.
4. VAT waiver for diesel
The federal government announced that there would be a VAT waiver for citizens who use diesel for their automobiles and alternative power sources.
According to the announcement, the waiver would be for six months.
5. Monthly stipends for 15 million families
Similarly, the federal government reached a crucial agreement with organised labour leaders by announcing the payment of N75,000 to 15 million households.
These households would receive the sum of N25,000 each for a period of three months, starting from October to December 2023.
Tinubu's aide reacts as BUA cement slashes price to N3,500 per bag
Meanwhile, BUA Cement Plc, the second-largest cement producer in Nigeria, has announced a price reduction for cement, lowering it to N3,500 per bag, effective October 2, 2023.
The company, owned by billionaire businessman Abdul Samad Rabiu, aims to promote development in the building materials and infrastructure sectors through this price reduction.
The development excited President Bola Tinubu's social media assistant, Dada Olusegun, who took to X to react.