President Bola Tinubu has indicated his readiness to approve a new minimum wage that is both reasonable and within the country's financial capacity.
During the 25th Democracy Day Anniversary Dinner at the Old Banquet Hall, Presidential Villa, Abuja, President Tinubu addressed the ongoing negotiations on minimum wage, emphasizing that the final settlement would be based on what the government and the people can afford.
The negotiations, which concluded last week, saw the Federal Government and the Organised Private Sector (OPS) proposing a slight increase to N62,000 from the initial N60,000, while the organized labour reduced its demand from N494,000 to N250,000.
The final decision on the new minimum wage now rests with President Tinubu, who will likely send a memorandum to the National Assembly for the enactment of a law.
President Tinubu reassured the Senate President, Godswill Akpabio, and other colleagues that the government would fulfill its obligations but would also ensure that the new wage is financially sustainable. "Senate President, Deputy Senate President, you'll get a notice from me. If I've changed my mind on minimum wage, we're going to do it, what Nigeria can afford, what you can afford, what I can afford," he stated.
In addition to addressing the minimum wage issue, President Tinubu also clarified an incident earlier in the day at Eagle Square where he stumbled while entering a parade inspection vehicle.
He humorously explained that as a traditional Yoruba 'boy', he was performing a 'dobale' (prostration) to greet elders, highlighting that democracy was worth falling for.
The dinner was attended by several pro-democracy icons, including Prof. Bolaji Akinyemi, Chief Segun Osoba, Senator Shehu Sani, George Mbah, and Minister of Solid Minerals, Mr. Dele Alake, who all acknowledged President Tinubu's significant role in the democratic struggle.
Key figures present at the event included the President of the Senate, Godswill Akpabio; Deputy President of the Senate, Jibrin Barau; Speaker of the House of Representatives, Tajudeen Abbas; Deputy Speaker Benjamin Kalu; Chief Justice of Nigeria, CJN, Olukayode Ariwoola; and the Secretary to the Government of the Federation, Senator George Akume.
President Tinubu's commitment to a new minimum wage that balances affordability with the needs of the people signals a significant step towards improving the lives of Nigerian workers while ensuring the sustainability of the country's economy.
