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Minimum Wage: I Will Approve What Nigeria Can Afford, Says Tinubu

President Bola Tinubu has announced his intention to approve a new minimum wage that the government can afford. He made this statement on Wednesday during a dinner celebrating Nigeria’s 25 years of uninterrupted democracy in Abuja.
The President expressed his gratitude to those who have supported him over the years and assured Nigerians of his commitment to democratic principles.
“I am celebrating with my dear brother, Senate President, Deputy Senate President,” he said, indicating that Senate President Godswill Akpabio and his deputy, Jibrin Barau, would soon receive an executive bill from him concerning the new minimum wage.
“The minimum wage will be what Nigerians can afford, what you can afford, and what I can afford. Cut your coat according to your size, if you have a size at all,” he remarked.
The President also pledged to reduce food prices by addressing the issue of banditry, which has driven many farmers from their land.
In his earlier Democracy Day speech, the President honored MKO Abiola and other democracy heroes. He urged Nigerians to support his administration’s economic initiatives and mentioned that a bill for a new minimum wage would be presented to the National Assembly soon.
On Friday, June 7, 2024, negotiations between labor and the government failed to reach an agreement. Labor reduced its demand from ₦494,000 to ₦250,000, while the government increased its offer from ₦60,000 to ₦62,000.
Both parties submitted their reports to the President, who is expected to decide and send an executive bill to the National Assembly to establish the new minimum wage law.
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