President Bola Tinubu said on Monday the Federal Government and organized labour are working on a new minimum wage for Nigerian workers.
Tinubu, who stated this in his nationwide address to Nigerians following the anger trailing some of the government’s policy initiatives, including the fuel subsidy removal, said his administration would make budgetary allocations for the implementation of the new minimum wage at the end of the ongoing discussion between the two parties.
He also revealed that the government had saved N1 trillion that would have been used for the payment of fuel subsidies in the last two months.
Tinubu said: “In a little over two months, we have saved over a trillion naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters. That money will now be used more directly and more beneficially for you and your families.
“In the same vein, we are also working in collaboration with the Labour unions to introduce a new national minimum wage for workers. I want to tell our workers this: your salary review is coming.
“Once we agree on the new minimum wage and general upward review, we will make budget provisions for it for immediate implementation.
“I want to use this opportunity to salute many private employers in the Organised Private Sector who have already implemented general salary review for employees.”
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