President Tinubu Approves ₦150,000 Grant for Jigawa Business Owners

In a significant move to support small businesses in Jigawa State, President Bola Tinubu has approved a grant of ₦150,000 for each business owner in the region.

The announcement was made public through a press release from the State House, Abuja, and shared by Vice President Kashim Shettima on his official X account.

The Vice President highlighted that this grant is a part of Nigeria’s broader strategy for digital transformation and economic leadership in Africa.

Speaking at the launch of the AI Expertise Blockchain and Technology Training and Outsourcing Initiative in Dutse, Shettima emphasized that Nigeria is not merely catching up with global technological advancements but is positioned to surpass them.

In addition to the technology initiative, the Vice President launched the 4th edition of the Expanded National Micro, Small, and Medium Enterprises (MSMEs) Clinic.

During the event, he disclosed that the grant from President Tinubu is a direct support initiative for MSMEs across Nigeria. He clarified that the ₦150,000 grant is non-repayable, providing much-needed financial support to business owners without the burden of repayment.

National Minimum Wage Amendment Bill Passed by National Assembly

On the same day, the National Assembly swiftly passed the National Minimum Wage Act 2019 (Amendment Bill).

The bill was transmitted by President Tinubu and was rapidly approved in both the Senate and the House of Representatives, moving through second and third readings almost instantaneously.

The bill, now awaiting the President’s signature, proposes to increase the national minimum wage from ₦30,000 to ₦70,000.

Additionally, it seeks to shorten the period for periodic review of the minimum wage from five years to three years, ensuring more frequent adjustments in line with economic conditions.

This legislative action follows a recent agreement between the government and the Nigeria Labour Congress (NLC) on the new minimum wage.

Despite initial demands by the NLC for a ₦250,000 minimum wage, a consensus was reached at ₦70,000, with the understanding that the minimum wage review period would be shortened to three years.

This decision comes after extensive negotiations between labour representatives and the President, aiming to address the economic challenges faced by Nigerian workers, particularly in the wake of inflation and the removal of petrol subsidies.