New minimum wage bill will soon be sent to national assembly – Tinubu Says

President Bola Tinubu has announced that an executive bill regarding a new minimum wage will soon be submitted to the national assembly.

In his Democracy Day address on Wednesday, Tinubu emphasized that while reforming the economy, he will remain attentive to the people’s needs and will not disregard them.

Tinubu stated that the federal government has engaged in good faith negotiations with organized labor concerning the new national minimum wage.

“We will soon present an executive bill to the national assembly to formalize the agreed terms as law for the next five years or less,” he declared.

Despite calls for a national strike by labor unions, Tinubu highlighted that the government chose cooperation over conflict, refraining from oppressive measures.

“No one was arrested or threatened. Instead, labor leaders were invited to discuss and negotiate a fair resolution,” he noted.

“Reasoned discussion and principled compromise are fundamental to democracy, and these principles will continue to guide my policies and interactions with various political and economic stakeholders.

“I undertake this important task with determination and impartiality, committed to building a Nigeria where no one is oppressed.”

At the last meeting of the tripartite committee on minimum wage, organized labor rejected the government’s proposal of ₦62,000, insisting on ₦250,000 as the living wage for an average Nigerian worker.

Chris Onyeka, the assistant general secretary of the Nigeria Labour Congress (NLC), stated that the unions never considered ₦100,000, let alone ₦62,000.

“We are firmly advocating for ₦250,000, which we believe is a reasonable compromise given the current market realities and everyday expenses like rice, yam, and garri,” he explained.