N315 Billion Dedicated To Six-Month Allowance; Labour Suspends Nationwide Strike For 30 Days

Date:

The Federal Government has allocated an additional N315 Billion for wage allowances over the next six months for federal employees. This development follows extensive negotiations between the government and Organised Labour; resulting in a Memorandum of Understanding signed after lengthy discussions that concluded late on Monday.

The Minister of Labour and Employment, Simon Lalong, disclosed the outcome of the meeting, announcing that “The NLC and TUC accept to suspend for 30 days the planned Indefinite Nationwide strike scheduled to begin Tuesday, the 3rd of October, 2023.” The memorandum is expected to be submitted to the relevant court of competent jurisdiction within a week as a consent judgment by the Federal Government.

However, NLC President Joe Ajaero emphasised that the unions will closely monitor the government’s commitment to fulfilling their demands.

The agreement reached with the Federal Government includes the initiation of a N35,000 wage award for all Federal Government workers, effective from September. Additionally, the government has pledged N100 Billion for high-capacity CNG buses to enhance mass transit in Nigeria; with provisions for CNG conversion kits and state-of-the-art CNG stations nationwide. Furthermore, there will be joint visits to refineries to assess their rehabilitation status.

Despite these promising developments for federal workers, the majority of working-age Nigerians may not benefit from this allowance, as data from the National Bureau of Statistics indicates that approximately 88.2% of them are not engaged in wage employment. To address some of these challenges, the government has initiated a new cash transfer program, providing N75,000 to 15 Million households for a three-month period from October to December 2023.

In a related move, the Senate approved an $800 Million loan from the World Bank to support vulnerable and poor households under the National Safety Net Programme. However, concerns persist about the exclusion of some poor households from the cash transfer program, particularly in urban areas where the impact of fuel subsidy removal has been strongly felt.

 

 

 

 

 

 

 

 

 

 

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

FCCPC ORDERS MONITORING OF MARKET PRICES AMID NAIRA APPRECIATION

The Federal Competition and Consumer Protection Commission (FCCPC) has...

NEW AKWA IBOM POLICE PUBLIC RELATIONS OFFICER ASSUMES DUTY

The newly appointed Police Public Relations Officer (PPRO) for...

UEFA Champions League: Mbappe Stars As PSG Beat 10-man Barcelona

Luis Enrique returned to Barcelona to knock his former...

Tennis: Nadal Makes Triumphant Return At Barcelona Open

Rafael Nadal enjoyed a winning start at the Barcelona...