Nigeria’s president offers low-income workers a temporary minimum wage increase

As Nigeria marked its 63rd independence day anniversary on Sunday, President Bola Tinubu offered a temporary minimum wage hike for lower-paid workers.

The announcement came just two days before major labour unions are due to begin an indefinite strike on 3 October in protest against the rising cost of living.

Tinubu also promised the introduction of cheap gas-powered public transport and more social security for the poor to help offset the impact of his economic reforms.

Following his election in May, he ended a long-standing fuel subsidy, liberalised the naira currency in a bid to attract more foreign investment.

His government said the reforms, applauded by investors, were necessary to revive the flagging Nigerian economy.

But with inflation now at 25 per cent and fuel prices soaring, people are struggling to make ends meet.

In addition to its use in vehicles, petrol is widely used in Nigeria by millions of small businesses and households to power generators as the country does not produce enough electricity to meet the needs of citizens.

The increase to the minimum wage announced on Sunday is, however, less than hoped for.

The $32 raise for the next 6 months takes the monthly salary to just $71, far short of the $260 unions had demanded.