According to President Bola Tinubu, a new minimum salary that the government can afford will be approved. At a luncheon held in honor of Nigeria’s 25 years of uninterrupted democracy in Abuja on Wednesday, he made this statement. The President thanked everyone who has supported him throughout the years and assured the people of Nigeria that he would not stray from the principles of democratic governance.
He remarked, “I have to celebrate with you, my dear brother, Senate President, Deputy Senate President,” and that he will shortly be sending an executive bill to Senate President Godswill Akpabio and his deputy, Jibrin Barau, on the new minimum salary.
“What Nigerians can afford, what you can afford, and what I can afford will be the minimum wage.” If you have a size at all, cut your coat to fit you,” he said.
In addition, the president pledged to reduce food costs by combating the banditry threat that has driven many farmers off their land. The President honored MKO Abiola and other democratic heroes earlier in his Democracy Day speech. Among other things, he urged Nigerians to support his administration’s initiatives to boost the country’s economy and told them that a new minimum wage bill would soon be introduced to the National Assembly.
The labour and government failed to come to an agreement on Friday, June 7, 2024. While labor’s demand fell once more, from ₦494,000 to ₦250,000, the government promised workers ₦62,000 and added ₦2,000 to its initial ₦60,000. The President received the reports from both parties and is likely to decide and send an executive bill to the National Assembly for approval of a new minimum wage bill that the President would sign into law.
