President Bola Ahmed Tinubu has said that he will approve a new minimum wage that the government can afford.
The president stated this on Wednesday June 12th at a dinner to commemorate Nigeria’s 25 years of uninterrupted Democracy in Abuja.
Tinubu lauded those who stood by him over the years and promised Nigerians that he won’t depart from the tenets of democratic governance.
“I have to celebrate with you my dear brother, Senate President, Deputy Senate President,” he said, adding that Senate President Godswill Akpabio and his deputy, Jibrin Barau would soon get an Executive Bill from him on the new minimum wage.
“The minimum wage is going to be what Nigerians can afford, what you can afford and what I can afford. Cut your coat according to your size, if you have size at all,” he added.
The President who also promised to bring down the prices of food by tackling the menace of banditry that has forced many farmers away from their farms, urged Nigerians to support his administration’s efforts to strengthen the economy.
He noted that a bill for a new minimum wage would be forwarded to the National Assembly soon, among other things.
Earlier, in his Democracy Day speech, the President honoured MKO Abiola and other heroes of democracy for their resilience in entrenching Nigeria’s Democracy.
Recall that on Friday, June 7, 2024, the organized labour union made up of the Nigerian Labour Congress and the Trade Union Congrress failed to reach an agreement with the federal government.
While the union slashed its demand from ₦494,000 to ₦250,000, the government added ₦2,000 to its initial ₦60,000 and offered workers ₦62,000.
Both sides submitted their reports to the President who is expected to make a decision and send an executive bill to the National Assembly to pass a new minimum wage bill to be signed into law by the President.
