New minimum wage will be fair, implementable – President Tinubu.

New minimum wage will be fair, implementable – President Tinubu.

The President of Nigeria, Asiwaju Bola Tinubu

The President of Nigeria, Asiwaju Bola Tinubu has provided indications about the potential scope of the planned minimum wage for Nigerian workers, taking into account the increased cost of living.

The President stated that the forthcoming wage structure will be practical, sustainable, and implementable by all levels of government.

The president said: “I understand the concerns regarding the unveiling of the new minimum wage and how states will manage these changes, especially those with fewer resources.

“To address this, my administration has approved a provisional increase in the federal minimum wage to N35,000 per month for a six-month period, two months of which have already been paid. This decision follows extensive consultations with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).

“In managing the situation with the states, we are working closely with them to ensure the new wage structure is practical and sustainable. It’s important that each state’s unique financial situation is considered.

“We are focused on strategies to help states strengthen their economies, considering factors like tax efficiency and economic diversification.

“We are committed to ongoing dialogues with labour unions and state governments. This collaborative approach is crucial to ensure that the new minimum wage is fair, reasonable, and implementable across all states. Our goal is to balance the economic well-being of our workers with the overall financial health of the nation.

“We ask Nigerians to rest assured that my administration will not rest until we have delivered a sustainable solution in the best interest of Nigerians.”