President Bola Tinubu announced on Wednesday that he will approve a new minimum wage that the government can afford, speaking at a dinner celebrating 25 years of unbroken democracy in Nigeria.
The President assured Nigerians that the minimum wage would be realistic, saying, “it’s going to 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.”
He also promised to tackle banditry, which has driven farmers away, to reduce food prices.
Tinubu’s announcement comes after labour and the government failed to agree on a minimum wage on June 7, with labour reducing its demand to ₦250,000 and the government offering ₦62,000.
The President is expected to make a decision and send an executive bill to the National Assembly soon.
Earlier, in his Democracy Day speech, the President honoured MKO Abiola and other heroes of democracy.
He also rallied Nigerians to support his administration’s efforts to strengthen the economy and informed citizens that a bill for a new minimum wage would be sent to the National Assembly soon, among other things.
