Tinubu promises fair implementation of new minimum wage

President Bola Tinubu has promised that the planned minimum wage for Nigerian workers by his administration will be implemented fairly and equitably to ameliorate the rise in the cost of living.

Tinubu who made the promise during his investiture as the Nation Newspaper Person of the Year, said the upcoming wage structure will be practical, sustainable and implementable by all tiers of government.

The President also said the economic reforms introduced by his government have been manifesting positive dividends which include a $616 million in Foreign Direct Investment (FDI) pledges.

“As your President, I am deeply aware of the economic crisis’s severe impact on Nigerians, and we are part of a global challenge with the rising costs of living,” Tinubu said.

“To help our people, my administration is taking proactive steps. We are focused on providing financial support to businesses and ensuring the availability and affordability of staple foods, which are essential for every Nigerian family.

“One of our key initiatives is the provision of N25,000 monthly to 15 million households, for a three-month period.

“To further support food security, we’re working with our partners, local and international, to improve agricultural practices and provide essential resources to farmers.

“All these efforts are in line with our commitment to reducing the economic burden on our citizens, especially the working class and vulnerable groups.

“In our commitment to ease the economic strain on our citizens, particularly the working class and vulnerable groups, my administration is championing the shift to cleaner energy sources.

READ ALSO:Tinubu assures foreign investors of diligent reparation of funds

“These initiatives are a crucial part of our strategy to target and provide relief to the most vulnerable segments of our population, especially during the last three months of the year when the prices of basic items typically rise.

“This is not just about providing temporary support; it’s about strategically delivering assistance when it’s needed most. We continue to work closely with all key stakeholders – including state governments, civil society groups, international partners, and private sector entities like telcos and fintechs, to refine these programs.

“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 Nigerian 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,” President Tinubu assured.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now