Tinubu hints at review of minimum wage in wake of subsidy removal

In order to reflect the nation’s present economic conditions, President Bola Tinubu has pledged to reevaluate the minimum wage of workers.

He contended that in addition to strengthening the source and use of the nation’s revenue, the federal and state governments should jointly examine the minimum wage.

President Tinubu revealed this on Friday during a meeting with the Progressive Governors Forum members, who backed the president’s decision to end the subsidy.

Speaking when he received members of the Hope Uzodimma-led forum, Tinubu said, “We need to do some arithmetic and soul searching on the minimum wage. We will have to take a look at that together, and the revenue. We must strengthen the source and application of our revenue.’’

The president told the governors, “I have inherited the assets and liabilities of my predecessor. This is the first time you entered the Council Chambers, and it is my first time too for a meeting.

READ ALSO:Nigerian govt to announce new minimum wage latest May 2024

“As progressives and thinkers under the umbrella of the All Progressives Congress, you have a role to play in educating our people and making sure we manage ourselves.”

He also assured that the multiple exchange rates currently prevalent in the country would be streamlined saying “If we work together, the Nigeria of our dreams is not far away. Rest assured that we will not have multiple exchange rates anymore. You asked for this meeting, and I had to set aside time to be here.

“We have a political party that we will need to manage, whichever way, we have inherited assets and liabilities, and we cannot complain.”

The Nigeria Labour Congess (NLC) had declared a nationwide strike from next Wednesday, over the removal of fuel subsidy by President Tinubu.

NLC President Joe Ajaero made the announcement this after an emergency meeting of the union’s National Executive Council (NEC) in Abuja on Friday.

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