President Bola Tinubu has expressed readiness to present the new minimum wage bill before the National Assembly for passage into law.
The President assured the organized labour in his Democracy Day speech on Wednesday, June 12, 2024.
According to President Tinubu, “In this spirit, we have negotiated in good faith and with open arms with Organised 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,” the President said.
He said in the face of Labour’s national strike on June 3, 2024, none of the leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) were arrested or threatened.
“Instead, the labour leadership was invited to break bread and negotiate toward a good-faith resolution. Reasoned discussion and principled compromise are hallmarks of democracy”.
President Tinubu also acknowledged the economic difficulties in the country and empathised with Nigerians, assuring the necessary repairs required to fix the economy.
“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 endeavour and labour,” the President said.
