Tinubu May Resort To Printing More Naira Notes To Pay Workers From June

Edo State Governor, Godwin Obaseki, has disclosed that the Federal Government may have to depend on printing more money for workers to be paid salaries after June 2023.

Obaseki hinted that the Federal Government might start owing workers’ salaries in the last six months of this year. Note that President-elect, Bola Tinubu, would have taken over from the current President. Muhammadu Buhari on May 29, 2023. 

The governor indicates Tinubu’s administration would have to choose between printing more money or removing fuel subsidy to pay workers or better still, owe workers’ salaries to avoid printing more Naira notes or removing fuel subsidy. 

According to reports on Tuesday, 2 May, Obaseki made this known while addressing workers in the state on Monday, 1 May, with the theme, “Workers’ rights and socio-economic justice”. 

“It would be a miracle for the Federal Government and state governments to pay salaries beyond June this year without resorting to massively printing money or removing fuel subsidy. Either of these decisions will bring more hardship and pain to Nigerians, particularly workers. 

“We must all make sure that the burden and pain of these measures, which must be taken, are not carried by workers alone. Workers must now rise and ensure that they champion any discussion on subsidy removal. 

“You must shift from the tradition of reacting when these policies have been made but insist that you take charge and ensure full transparency and disclosure. 

“If we are all undertaking a reform, then the benefits and pains that will come out of the reforms must be mutually shared by all Nigerians, not just the downtrodden,” the Edo state governor told participants. 

He also berated the Federal Government and other state governors for not improving workers’ salaries, stating it is only Edo State that is paying workers N40,000. 

“I am proud to say that Edo workers are currently the best-paid workers in Nigeria. When we announced the increment of the minimum wage to N40,000 at this venue last year, I expected that the Federal Government and other state governments would follow suit immediately but I am surprised that it has taken them one year already. 

“My promise to Edo workers here today is that the day the federal government is able to pay its new minimum wage and hand over a cheque to any federal worker, that day, we will match the federal government and do the same for state workers. 

“As your governor, I will ensure that workers are fairly treated so that your take-home pay can really take you home. Our government has kept faith with prompt and regular payment of staff salaries and retirees’ benefits in the State in the last six years. 

“As a tradition, salaries are paid latest on the 26th day of every month and for any holiday celebrations, our workers are paid before the celebration so that they have money to celebrate.”