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Subsidy: Imo gov increases minimum wage to N40k

Subsidy: Imo gov increases minimum wage to N40k

 

 

 

The Imo State Government has upped the minimum salary for workers in the state to N40,000 as part of measures put in place to mitigate the impact of the Federal Government’s elimination of fuel subsidies.

Governor Hope Uzodimma made this announcement while speaking to a gathering of important stakeholders on Saturday in Owerri, the capital of Imo State.

He also said that his administration would provide farmers with a N5 billion soft loan to increase their production.

The governor went on to list further actions that will lessen Imo people’s suffering across the board.

The governor said, “I have watched with keen interest how our people have been faring since the removal of the subsidy on fuel was announced. I can tell you that I am deeply worried by my observations. It is clear to me that our people are suffering particularly the low-income earners.

“I feel the pains and this is why I have come up with some initiatives that I am unfolding to cushion the effect.

“There shall be an immediate upward review of salaries and wages of workers in the state. The minimum wage is hereby raised to N40,000 with discretionary, consequential adjustment of other levels.”

Petrol subsidies were eliminated by President Bola Tinubu on May 29, 2023, at his inauguration. As a result, the price of the essential good at the pump increased from N184 to over N500 per litre.

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