Nigeria’s President Tinubu Announces ₦150,000 Grant for Jigawa State Business Owners, Senate and House of Representatives Pass National Minimum Wage Amendment Bill

In a significant development, President Bola Tinubu of Nigeria has ordered the approval of a ₦150,000 grant for each business owner in Jigawa State, aiming to boost the state’s economy and Nigeria’s digital transformation. The grant was revealed in a press release by the State House in Abuja, shared by Vice President Kashim Shettima on his official Twitter handle.

The grant is part of the Federal Government’s support to Micro, Small and Medium Enterprises (MSMEs) across the country, with the ₦150,000 grant an outright grant that does not require beneficiaries to repay. This move is in line with Nigeria’s strategy for digital transformation and leadership in Africa, as stated by Vice President Shettima.

Meanwhile, the National Assembly has speedily passed the National Minimum Wage Act 2019 (Amendment Bill), a significant step towards increasing the national minimum wage for Nigerian workers. President Tinubu had earlier requested the lawmakers to pass the bill, which has seen the national minimum wage increase from ₦30,000 to ₦70,000.

The truce between the government and labour sides, which followed a series of talks between labour leaders and the President, has agreed on ₦70,000 as the new minimum wage for Nigerian workers. Labour had initially demanded ₦250,000 as the new minimum wage, but accepted President Tinubu’s offer of ₦70,000 last Thursday, following the removal of petrol subsidy by the President, which had led to a high cost of living.

The grant and the passage of the National Minimum Wage Amendment Bill are major developments in Nigeria’s economic landscape, showing the government’s commitment to supporting small business owners and workers.