All workers to benefit from N25,000 provisional wage increase

All workers to benefit from N25,000 provisional wage increase – Gbajabiamila

The President’s Chief of Staff, Femi Gbajabiamila, has on Sunday said that the N25,000 provisional wage increase President Bola Ahmed Tinubu promised to low-grade workers for six months will now cut across all workers. Gbajabiamila disclosed this following negative reactions that followed the announcement.
Recall that Tinubu had in a live broadcast said: “For the next six months, the average low-grade worker shall receive an additional N25,000 per month”.
But reacting to the reactions Gbajabiamila said: “There was a lot of chatter on Twitter about the issue of low-income workers only falling into the category of the provisional wage increase. And we did communicate with the President and he quickly did say and agreed that all categories of workers will be given the wage bill. There is nothing like low income, median income or high income”.

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History of Exchange Rate in Nigeria From 1972 To 2023

Nigerian exchange rate policy has been changing since the introduction of the Naira as the official Nigerian currency. For instance, the U.S. Dollar to Naira exchange rate was N0.658 in 1972. Timeline of Dollar to Naira Exchange Rate from 1972 to 2023 Kindly note that the US to Naira black market exchange rate is completely different from the rate. In this post, we rely on the official rate (CBN rate) which has now metamorphosed into Importers’ and Exporters’ Window, following the FX unification. For simplicity, InfomediaNG divided the year under review into four as follows: 1. 1972 to 1983 2. 1984 to 1998 3. 1999 to 2015 and 4. 2015 to 2023 So, let’s get started! Dollar to Naira exchange rate between 1972 to 1983 From below you can see that one US dollar was N0.658 in Nigeria in 1972, that’s two years after the end of the Civil War. 1972: $1 = N0.658 1973: $1 = N0.658 1974: $1 = N0.63 1975: $1 = N0.616 1976: $1 = N0.62 1977: $1 = N0.647 1978: $1 = N0.606 ...

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