President Tinubu Announces Draft Legislation for Unified Minimum Wage in Nationwide Broadcast
Abuja, Nigeria — June 10, 2024 — In a nationwide broadcast commemorating the 25th anniversary of Nigeria’s democracy, President Bola Ahmed Tinubu announced that his administration is finalizing a draft legislation for a unified minimum wage. The bill will be presented to the National Assembly for approval in the near future.
During his address, President Tinubu acknowledged the economic challenges facing the nation and outlined the necessity of ongoing reforms aimed at creating a more balanced and sustainable economic foundation.
“I understand the economic difficulties we face as a nation,” President Tinubu said. “Our economy has been in desperate need of reform for decades. It has been unbalanced because it was built on the flawed foundation of over-reliance on revenues from the exploitation of oil.”
He emphasized that while the reforms have caused hardships, they are crucial for long-term economic stability and growth. “The reforms we have initiated are intended to create a stronger, better foundation for future growth. There is no doubt the reforms have occasioned hardship. Yet, they are necessary repairs required to fix the economy over the long run so that everyone has access to economic opportunity, fair pay, and compensation for his endeavor and labor.”
President Tinubu assured the public of his administration’s commitment to listening to the people’s needs and addressing their concerns. “As we continue to reform the economy, I shall always listen to the people and will never turn my back on you.”
He highlighted the government’s negotiations with organized labor, aiming for a new national minimum wage. “In this spirit, we have negotiated in good faith and with open arms with organized labor on a new national minimum wage. We shall soon send an executive bill to the National Assembly to enshrine what has been agreed upon as part of our law for the next five years or less.”
In addressing the recent calls for a national strike by labor unions, President Tinubu emphasized the government’s commitment to cooperation and dialogue. “In the face of labor’s call for a national strike, we did not seek to oppress or crack down on the workers as a dictatorial government would have done. We chose the path of cooperation over conflict. No one was arrested or threatened. Instead, the labor leadership was invited to break bread and negotiate toward a good-faith resolution.”
He concluded his address by reaffirming his dedication to democratic principles and fair governance. “Reasoned discussion and principled compromise are hallmarks of democracy. These themes shall continue to animate my policies and interaction with the constituent parts of our political economy. I take on this vital task without fear or favor and I commit myself to this work until we have built a Nigeria where no man is oppressed.”
The proposed legislation for a unified minimum wage is expected to provide a framework for fair compensation and contribute to economic stability as Nigeria continues to navigate its path toward sustainable growth.
