President Bola Tinubu has emphasized the necessity for a fair and implementable new minimum wage in Nigeria, considering the financial capacities of individual states, especially those with limited resources.
In an interview with The Nation on Sunday, Tinubu underscored the importance of assessing each state’s ability to adopt and sustain a new minimum wage, particularly when the previous one hasn’t been fully implemented nationwide.
Tinubu acknowledged concerns about the unveiling of the new minimum wage and highlighted the collaboration between the federal government, states, and labor unions to ensure the fairness, practicality, and sustainability of the proposed increase. He assured that the federal government is committed to the provisional increase in the federal minimum wage to N35,000 per month for a six-month period, with two months already disbursed to workers.
Addressing the challenges faced by states, especially those with limited resources, Tinubu stated, “I understand the concerns regarding the unveiling of the new minimum wage and how states will manage these changes, especially those with fewer resources.” He further emphasized that the administration is working closely with states to ensure that the new wage structure is both practical and sustainable.
Tinubu highlighted the importance of considering each state’s unique financial situation and outlined the administration’s focus on strategies to help states strengthen their economies through factors such as tax efficiency and economic diversification.
The President expressed the commitment to ongoing dialogues with labor unions and state governments, emphasizing the collaborative approach as crucial to ensuring that the new minimum wage is fair, reasonable, and implementable across all states.
Tinubu assured Nigerians that the administration is dedicated to delivering a sustainable solution that balances the economic well-being of workers with the overall financial health of the nation.
