.jpeg "Tinubu approves a temporary stipend for federal interns.")
In his address delivered on Sunday, October 1, 2023, Tinubu made the following statement during the commemoration of Nigeria's 63rd independence anniversary.
As per the statement made by the president, the forthcoming increment will span a duration of six months.
According to his statement, this is one of the approaches being pursued by the government to alleviate the burden on families and households.
The lack of satisfaction arises from witnessing the citizens of this country continue to bear the weight of responsibilities that should have been alleviated in previous years. I express a desire for the absence of contemporary challenges. However, it is important that we persevere in order to get the favorable outcome of our forthcoming endeavors.
The administration is making every effort to alleviate the burden. In this discourse, I shall proceed to delineate the course of action we are undertaking in order to alleviate the burden of stress experienced by our families and households.
Several public sector reforms have been initiated in order to stabilize the economy, implement fiscal and monetary policies to combat inflation, promote production, safeguard the security of individuals and their assets, and provide increased assistance to those who are economically disadvantaged and susceptible to hardship.
Drawing from extensive consultations with representatives from labor, business, and various other stakeholders, we are proposing a temporary adjustment to the federal minimum wage in order to bolster its effectiveness while mitigating the risk of excessive inflationary pressures. Over the course of the following six months, there would be a monthly increment of N25,000 allocated to the typical worker with a lower grade.
In order to enhance grassroots development, we have established an Infrastructure Support Fund that enables states to allocate resources towards vital sectors.
The states have already been allocated monies to facilitate the provision of relief packages aimed at mitigating the adverse effects of escalating food and other commodity prices.
Tinubu asserted that the implementation of significant changes was needed to steer the nation towards a trajectory of economic prosperity and expansion. During this particular event, he officially declared the discontinuation of the fuel subsidy.
The individual expressed their awareness of the difficulties that have arisen and emphasized the collective need for resilience during this challenging period.
Expanding on his remarks, the speaker emphasized that although reform can be accompanied by discomfort, it is an essential undertaking for achieving greatness and securing the future.
Furthermore, he highlighted that his administration is currently shouldering the expenses associated with the pursuit of a future Nigeria characterized by equitable distribution of the nation's wealth and resources, rather than being concentrated in the hands of a privileged and avaricious minority.