President Bola Tinubu has underscored the importance of fairness and practicality in implementing the new minimum wage in Nigeria.
In an interview with The Nation on Sunday, the president emphasized the need to consider the financial capacity of each state, particularly those with fewer resources, in determining the revised wage structure.
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Highlighting the challenges faced by some states in adopting the previous minimum wage, President Tinubu expressed the necessity of careful consideration to ensure the feasibility of the new minimum wage.
He assured the public that the federal government is actively collaborating with states and labor unions to develop a fair, practical, and sustainable wage policy.
President Tinubu disclosed a provisional increase in the federal minimum wage to N35,000 per month for six months, with two months already disbursed to workers. This interim measure aims to address concerns about the unveiling of the new minimum wage, especially for states grappling with limited resources.
Acknowledging the diverse financial situations of states, Tinubu affirmed the government’s commitment to working closely with them. The approach includes strategies to strengthen state economies through considerations like tax efficiency and economic diversification.
President Tinubu Vows Commitment Towards New Minimum Wage
“We are committed to ongoing dialogues with labor 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”.
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He urged Nigerians to rest assured that his administration is dedicated to delivering a sustainable solution in the best interest of the citizens.
As discussions continue, the government remains focused on achieving a balanced and equitable approach to the implementation of the new minimum wage nationwide.
