BREAKING: Tinubu Announces Conclusion on Minimum Wage Negotiation, Unveils Next Action
- President Bola Tinubu has disclosed the completion of negotiations on the new minimum wage with organised labour and the private sector
- The president, in his address on Democracy Day, said an executive bill would soon be sent to the National Assembly to enshrine the new minimum wage into the Nigerian law
- However, Tinubu did not mention what was agreed upon, but the minimum wage could be pegged at N62,000, which was earlier tabled before him by the Tripartite committee
Aso-Rock, Abuja – President Bola Tinubu has said that he will soon send the bill on the new minimum wage to the National Assembly. This is part of the law that would determine what workers will earn for the next five years or less.
Tinubu, in a televised address to Nigerians on Wednesday, June 12, monitored by TheTalk.NG, said what will be sent to the national assembly as the new minimum wage was what has been agreed upon with organised labour.
Tinubu to send minimum wage bill to the National Assembly
Photo Credit: @officialABATSource: Twitter
Has Tinubu announced new minimum wage?
However, the president did not announce the new minimum wage. The Tripartite Committee, comprising the federal government team, organised labour and the private sector, have agreed on N62,000, which was tabled before him.
If the president was referring to what has been tabled before him, that means the new minimum wage will be pegged at N62,000.
In his address to Nigerians on Democracy Day on Wednesday morning, the president disclosed his conclusion on the new minimum wage and the plan to forward the Tripartite Committee report to the national assembly.
Why Nigeria’s economy is having problem, Tinubu
During the speech, Tinubu said the country’s economy had been in desperate need of reform for decades, and unbalance existed because of its flawed foundation, which is the overreliance on revenues from oil exploitation.
His statement reads in part:
“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.”
Source: TheTalk.NG
