President Bola Tinubu stated that he would approve a new minimum wage that the government can afford. He made this announcement on Wednesday during a dinner in Abuja, celebrating Nigeria’s 25 years of continuous democracy.
Tinubu expressed gratitude to those who have supported him over the years and assured Nigerians of his commitment to democratic principles. He mentioned that the Senate President, Godswill Akpabio and Deputy Senate President, Jibrin Barau would soon receive an executive bill from him regarding the new minimum wage.
“The minimum wage will be based on what Nigerians, you, and I can afford. Adjust your needs to fit your means,” he remarked.
The President also committed to reducing food prices by addressing banditry, which has disrupted farming activities. He urged Nigerians to support his administration’s efforts to strengthen the economy and mentioned that a bill for a new minimum wage would soon be sent to the National Assembly.
Last Friday, the government and labor unions failed to reach an agreement on the new minimum wage. While the labor unions reduced their demand from N494,000 to N250,000, the government raised its offer from N60,000 to N62,000.
Both sides have submitted their reports to the President, who is expected to make a decision and forward an executive bill to the National Assembly for a new minimum wage.
