President Bola Tinubu announced that the government will set a new minimum wage based on what Nigeria can afford. Speaking at an event in Abuja to mark the 25th anniversary of Nigeria’s Democracy Day, Tinubu emphasized that the federal government has negotiated in good faith with organized labor.
He noted that an executive bill on the new minimum wage would be sent to the National Assembly to formalize the agreement. The federal government proposed a new minimum wage of ₦62,000, while labor unions demanded ₦250,000. Despite ongoing negotiations, no final agreement has been reached.
“The minimum wage will be what Nigeria can afford,” Tinubu stated. “We must cut our coat according to our size.” He praised the efforts of state governors and assured them of his commitment to improving the welfare of Nigerians.
Tinubu also addressed the issue of insecurity, particularly its impact on food production, and promised measures to reduce food prices. He called on Nigerians to support his administration’s efforts to strengthen the economy and uphold democratic values.
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