New National Minimum Wage Has Been Negotiated – Tinubu

President Bola Ahmed Tinubu has pointed out that a new national minimum wage have been negotiated and and executive Bill will be sent to the National Assembly to enshrine the agreement as part of our laws for the next five years or less.

He said this during his speech to commemorate Democracy Day on June 12, 2024 while refuting the claim that no labour leader was arrested or intimidated but the labour leadership was invited to break bread and negotiate toward a good-faith resolution.

“In this spirit, we have negotiated in good faith and with open arms with organized labour 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 the face of labour’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.”

President Tinubu assured that he us committed to working until a Nigeria where no man is oppressed is realised.

“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.”

Meanwhile, Organised Labour had insisted on N250,000 minimum wage while insisting that it would not negotiate what it described as a ‘starvation wage.’

The Tripartite Committee of the Federal Government has determined that N62,000 is a sustainable amount following its meeting with the Organised Private Sector.

However, the Governors’ Forum stated that any minimum wage higher than N60,000 will not be sustainable.

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