Nigeria’s Tinubu offers wage increase ahead of labour strike

By Felix Onuah

October 1, 20237:08 AM GMT+1Updated 5 hours ago

Summit for a new global financing pact takes place in Paris

ABUJA, Oct 1 (Reuters) – Nigerian President Bola Tinubu on Sunday announced an interim wage rise for low income workers and mass buses running on gas to ease the impact of a petrol subsidy removal, just two days before labour unions embark on an indefinite strike.

Tinubu scrapped a decades-old subsidy during his inauguration in May and ended foreign exchange restrictions, which has led to soaring cost of living and angered unions.

https://imasdk.googleapis.com/js/core/bridge3.593.1_en.html#goog_1248814793
https://imasdk.googleapis.com/js/core/bridge3.593.1_en.html#goog_200333825
https://imasdk.googleapis.com/js/core/bridge3.593.1_en.html#goog_1100315054
https://imasdk.googleapis.com/js/core/bridge3.593.1_en.html#goog_1608324868

In a national broadcast marking 63 years of independence, Tinubu defended the reforms as necessary to put Africa’s biggest economy on the path to recovery.

“I am attuned to the hardships that have come. I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future,” said Tinubu.

He said following talks with labour, business and other stakeholders, federal government workers would get an additional 25,000 naira a month for the next six months, a smaller raise he said was necessary to avoid pushing up double-digit inflation.