President Bola Tinubu has narrated that the new minimum wage in Nigeria must be fair and implementable.
According to him, the financial capacity of each state of the federation, particularly those with fewer resources must be put into consideration in arriving at a new minimum wage for workers in the country.
Speaking in an interview with The Nation on Sunday, the President said the ability of some of the states to implement and sustain a new minimum wage when the last one has not even been fully adopted all over the country is a factor that must be carefully considered.
He however assured that the federal government is working with the states and labour unions to ensure the new minimum wage is fair, practical and sustainable.
Tinubu said in the meantime, the federal government is committed to the provisional increase in the federal minimum wage to N35,000 per month for a six-month period, adding that two months have been paid to workers already.
“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,” President Tinubu said.
