Nigeria announced a temporary wage increase among a set of measures aimed at cushioning the impact of reforms on citizens and averting a strike scheduled to start on Tuesday.
The West African nation is “introducing a provisional wage increment to enhance the federal minimum wage without causing undue inflation,” President Bola Tinubu said in a broadcast on Sunday to mark Nigeria’s independence anniversary. “For the next six months, the average low-grade worker shall receive an additional 25,000 naira per month,” he said.
Since taking office in May, President Tinubu has instituted reforms to revive one of Africa’s biggest economies from almost a decade of decline. The reforms, which include scrapping a $10 billion annual fuel subsidy and liberalizing the foreign-exchange market, have led to a 40% naira devaluation and escalated inflation. Though popular, the policies have inflicted hardship on the population.
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