Following over four hours of negotiations between representatives of the federal government and labour unions, an additional N10,000 has been added to the initial N25,000 temporary wage increment announced by President Bola Tinubu during his Independence Day broadcast.
This brings the total wage increment for federal government employees to N35,000.
As a result, labour may consider suspending its proposed strike scheduled to commence on October 3.
The negotiations were led by President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, and NLC President Mr Joe Ajaero, resulting in further agreements.
Provisional Wage Increment
The Federal Government increased the initial N25,000 to N35,000 provisional wage increase for all Treasury-paid federal government workers for six months.
Fast-tracking CNG Buses
The government is committed to expediting the provision of compressed natural gas (CNG) buses to address public transportation challenges resulting from the removal of the PMS subsidy. CNG buses are expected to provide a more cost-effective and environmentally friendly alternative to traditional fuel-powered vehicles.
Support for Micro and Small-Scale Enterprises
The Federal Government will provide financial support to micro and small-scale enterprises. This support is likely aimed at promoting entrepreneurship and economic growth, among smaller businesses.
Waiver on VAT for Diesel
VAT (Value Added Tax) on diesel will be waived for the next six months. This move is designed to reduce the cost of diesel, which is often used for various purposes, including transportation and electricity generation.
Payment to Households
The Federal Government will commence payments of N75,000 to 15 million households at a rate of N25,000 per month for a three-month period, from October to December 2023.
Higher Wage Award
Labour unions advocated higher wage awards, and the Federal Government has committed to presenting these requests to President Bola Tinubu for further consideration.
Writing by Saadatu Albashir: Editing by Annabel Nwachukwu
