PRESIDENT Bola Tinubu has announced that he will approve a new minimum salary that the government can afford.
He made the statement yesterday at a luncheon in Abuja commemorating Nigeria’s 25th year of uninterrupted democracy.
The President thanked those who had supported him over the years and assured Nigerians that he would not abandon the principles of democratic governance.
“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,” he said.
The President also promised to lower food prices by addressing the issue of banditry, which has forced many farmers to abandon their farms.
Earlier, in his Democracy Day speech, the President recognized MKO Abiola and other democratic heroes.
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.
On Friday, June 7, 2024, the two parties (labour and government) failed to reach an agreement. The labour demand reduced from ₦494,000 to ₦250,000, while the government increased the initial ₦60,000 offer by ₦2,000 to ₦62,000.
Both parties filed reports to the President, who is anticipated to make a choice and send an executive bill to the National Assembly to enact a new minimum wage bill, which the President will sign into law.
