President Bola Tinubu has reportedly said that he will approve a new minimum salary that corresponds with what the government can afford, according to a Daily Post story. The statement was made by the President on Wednesday at an Abuja banquet honoring Nigeria’s 25 years of uninterrupted democracy.CONTINUE FULL READING>>>>>
In his address, Tinubu expressed gratitude to those who have supported him over the years and reaffirmed his commitment to democratic principles.
“I have to celebrate with you my dear brother, Senate President, Deputy Senate President,” he said, highlighting his collaboration with Senate President Godswill Akpabio and Deputy Senate President Jibrin Barau. He indicated that an Executive Bill on the new minimum wage would soon be presented to them.
“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,” Tinubu stated, emphasizing the need for a sustainable and realistic approach to wage adjustments.
The President also pledged to address the high prices of food items by combating banditry, which has displaced many farmers from their lands.
This initiative aims to stabilize food production and reduce costs. Tinubu called on Nigerians to support his administration’s efforts to strengthen the economy, assuring them that a new minimum wage bill would soon be sent to the National Assembly.
The ongoing negotiations between the government and labor unions have yet to yield a consensus on the new minimum wage.
Last Friday, discussions stalled as labor reduced its demand from N494,000 to N250,000, while the government increased its offer from N60,000 to N62,000.
Tinubu’s administration is under pressure to find a balance between fair compensation for workers and the financial constraints of the government. His latest remarks suggest a focus on affordability and pragmatic governance as the country moves forward.CONTINUE FULL READING>>>>>