Speaking in a broadcast to mark Nigeria's 63rd independence day anniversary, Tinubu's announcement came after he ended a longstanding fuel subsidy that cost the government billions of dollars a year to keep fuel cheap and also his liberalization of the naira currency.
The Nigeria Labor Congress and the Trade Union Congress -- the two major unions representing industries from aviation workers and nurses to teachers and bankers -- had called an indefinite strike for October 3 because they say the government failed to address their concerns.In his broadcast, Tinubu said the federal minimum wage for the lower-grade public employees would increase by 25,000 naira a month for the next six months.
Social security cash transfers to the poorest Nigerians would also be extended and investments made available for small businesses, he said. The NLC and TUC went on strike in August over the same issues, with many businesses, government offices, markets, banks closed for a day in the capital Abuja. But the call to strike met with more mixed response from businesses in the economic capital Lagos.