President Bola Tinubu has stated that he will approve a new minimum wage that the government can afford.
The President made the remarks on Wednesday during a luncheon in Abuja commemorating Nigeria’s 25th year of uninterrupted democracy.
Tinubu thanked those who had supported him over the years and assured Nigerians that he would not abandon democratic principles.
He stated “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.”
The President also promised to lower food prices by addressing the issue of banditry, which has pushed many farmers to abandon their farms.
He also exhorted Nigerians to support his administration’s efforts to strengthen the economy and announced that a bill for a new minimum wage would be introduced in the National Assembly soon, among other things.
Remember that last Friday, the administration and labor were unable to reach an agreement on the new minimum wage.
While labour reduced its demand from N494,000 to N250,000, the government increased its original offer by N2,000 and made it N62,000.
Both sides submitted reports to the President, who is expected to make a choice and send an executive bill to the National Assembly proposing a new minimum wage.
