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Wednesday, June 12, 2024

MINIMUM WAGE LEGISLATION PROPOSED



During a nationwide broadcast marking the 25th anniversary of Nigeria's democracy, President Tinubu announced that his government is finalizing draft legislation for a unified minimum wage, soon to be presented to the National Assembly for approval.


The president acknowledged the economic challenges facing the nation, stating, "Our economy has long needed reform. It has been unbalanced due to over-reliance on oil revenues. The reforms we have initiated aim to create a stronger foundation for future growth. While these reforms have caused hardship, they are necessary to fix the economy in the long run, ensuring everyone has access to economic opportunity and fair compensation."


He emphasized his commitment to listening to the people and remaining responsive to their needs. "We have negotiated in good faith with organized labor on a new national minimum wage and will soon send an executive bill to the National Assembly to enshrine this agreement into law for the next five years or less."


President Tinubu highlighted the government's choice of cooperation over conflict in response to labor's call for a national strike. "We did not oppress or crack down on workers as a dictatorial government might have. Instead, we invited labor leadership to negotiate a good-faith resolution."


He concluded by reaffirming his dedication to democracy and equitable governance, stating, "Reasoned discussion and principled compromise are hallmarks of democracy. These themes will continue to guide my policies. I commit myself to this work until we have built a Nigeria where no one is oppressed."

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