President Bola Tinubu has promised to roll out buses across the states and local governments for mass transit at a much more affordable rate.
He said his government has made provision to invest N100 billion between now and March 2024 for the purchase of 3,000 units of 20-seater buses running on compressed natural gas (CNG).
This is part of some palliatives the President disclosed during a national broadcast on Monday to cushion the effects of petrol subsidy removal on Nigerians.
According to Tinubu, “these buses will be shared with major transportation companies in the states, using the intensity of travel per capital.”
He added that participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.
The President also said that the government is working in collaboration with the Labour unions to introduce a new national minimum wage for workers.
“I want to tell our workers this: your salary review is coming,” he said.
“Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation.”
He also commended many private employers in the Organised Private Sector who have already implemented general salary review for employees.
While admitting that this period may be hard on the people, Tinubu appealed to Nigerians to look beyond the present temporary pains and aim at the larger picture, saying that “all of our good and helpful plans are in the works. More importantly, I know that they will work.”
The President also conceded to the fact that there was an unavoidable lag between subsidy removal and these plans coming fully online but said the government is swiftly closing the gap.
“I plead with you to please have faith in our ability to deliver and in our concern for your well-being,” he further appealed