Minimum Wage: I’ll Approve What Nigeria Can Afford, Says Tinubu

President Bola Tinubu announced plans to approve a new minimum wage that the government can afford, during a dinner on Wednesday celebrating Nigeria’s 25 years of uninterrupted democracy in Abuja.

Expressing gratitude to those who supported him over the years, Tinubu promised to uphold democratic principles. He mentioned that Senate President Godswill Akpabio and Deputy Senate President Jibrin Barau would soon receive an Executive Bill from him regarding the new minimum wage.

“The minimum wage will be what Nigerians can afford, what you can afford, and what I can afford. Cut your coat according to your size, if you have size at all,” Tinubu remarked.

The President also vowed to reduce food prices by addressing banditry, which has driven many farmers off their land. He called on Nigerians to support his administration’s efforts to bolster the economy and announced that a bill for a new minimum wage would soon be sent to the National Assembly.

Last Friday, the government and labor unions failed to reach an agreement on the new minimum wage. Labor lowered its demand from N494,000 to N250,000, while the government increased its offer from N60,000 to N62,000. Both sides have submitted their reports to the President, who is expected to decide and send an executive bill to the National Assembly for the new minimum wage.