ABUJA — President Bola Tinubu announced on Wednesday that he will approve a new minimum wage that the Nigerian government can afford. This declaration was made during a dinner celebrating Nigeria’s 25 years of uninterrupted democracy.
President Tinubu expressed his gratitude to his supporters over the years and reassured Nigerians of his commitment to democratic principles. “I celebrate with you, my dear brother, Senate President, Deputy Senate President,” he said. Tinubu also indicated that Senate President Godswill Akpabio and his deputy, Jibrin Barau, would soon receive an executive bill regarding the new minimum wage.
“The minimum wage will be what Nigerians can afford, what you can afford, and what I can afford,” Tinubu stated. “Cut your coat according to your size, if you have size at all.” He further pledged to reduce the prices of food items by addressing banditry, which has driven many farmers away from their fields.
President Tinubu called on Nigerians to support his administration’s efforts to strengthen the economy. He informed the public that a bill for a new minimum wage would soon be submitted to the National Assembly.
This announcement follows unsuccessful negotiations between the government and labor unions last Friday regarding the new minimum wage. Labor unions reduced their demand from N494,000 to N250,000, while the government increased its offer from N60,000 to N62,000. Both parties have submitted their reports to President Tinubu, who is expected to make a final decision and forward an executive bill to the National Assembly for approval.