Economy

President Tinubu announces new minimum wage bill for workers

Published

6 days ago

June 12, 2024

In his Democracy Day address on June 12, 2024, President Bola Tinubu assured the nation that an executive bill proposing a new national minimum wage will soon be sent to the National Assembly for approval.

President Tinubu emphasized his administration’s commitment to improving the welfare of Nigerian workers. “In this spirit, we have negotiated in good faith and with open arms with Organised Labour on a new national minimum wage,” Tinubu stated.

“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.”

This announcement highlights the government’s proactive approach to addressing workers’ concerns and ensuring fair compensation in the face of economic challenges. The proposed bill, once passed, will set the new minimum wage standard and provide a legal framework for its implementation across the country.

The President’s commitment to negotiating with organized labor reflects a broader effort to foster cooperation and ensure that the needs of workers are met. The new minimum wage aims to enhance the living standards of Nigerian workers and promote economic stability.

The forthcoming bill is a significant step towards achieving these goals, and its passage will mark a critical milestone in the government’s ongoing efforts to support and empower the nation’s workforce.