Minimum Wage Saga Laid to Rest As Tinubu Approves ₦‎70000

Minimum Wage Saga Laid to Rest As Tinubu Approves ₦‎70,000. The President of the Federal Republic of Nigeria, President Tinubu, has kept to his vow of reviewing the minimum wage and has now approved the payment of N70,000 minimum wage throughout the country.

In a bid to end the prolonged minimum wage saga, President Bola Tinubu finally approves ₦70,000 as Nigeria’s new National minimum wage

On Thursday, the President approved the minimum wage with a vow to review minimum wage law every three years.

He reiterated his commitment to assuring every Nigerian worker lives above the poverty level and promised to assist the private sector and the subnationals in paying the newly approved and implemented National minimum wage.

Tinubu disclosed this at the meeting on Thursday in Abuja between the leaders of the Trade Union Congress (TUC) and the National Labour Congress (NLC). 

This is the second time in seven days that the President has met with the parties involved to find a lasting solution to the issue.

Organised Private Sector

Reactions from other sectors trail the new National minimum wage, approved by the President, as the Organised Private Sector, OPS, has issued a warning that its members cannot afford to pay its workers the just-approved National minimum wage without being supported by the Federal Government.

OPS spokesperson and Director General of the Nigeria Employers’ Consultative Association, NECA, Adewale-Smatt Oyerinde, said, “ We commend the President on resolving the immediate issue of the National Minimum Wage.”

“We also note, most importantly, his commitment to support the sub-nationals and the Organized Private Sector to pay the new wage.”

“Reason I Intervened In The Negotiations,” Says Tinubu

Reacting to questions from the media, President Bola Tinubu revealed on Thursday why he had interviewed in the negotiations for the new national minimum wage.

https://www.vanguardngr.com/2024/07/breaking-minimum-wage-tinubu-agrees-to-pay-n70-000/

He revealed that he understood and felt the hardship experienced by the populace, which requires urgent attention by providing relief.

President Tinubu Speaking Through Ajuri Ngelale

Speaking through the Special Adviser on Media & Publicity, Ajuri Ngelale, after the meeting with the leadership of the Trade Union Congress (TUC) and Nigeria Labour Congress (NLC) at the Presidential Villa, Abuja, on Thursday, President Tinubu told the Labour leaders: “I have heard all your presentations. You came here to secure something on behalf of your members.

“It has been tough globally. And if you review my track record, you will find that I have never been found wanting to address the problems of workers. I belong to the people and all of you in leadership. Without you, this job is not fulfilling.

“You have challenged the leadership’s thinking, and we have reviewed the position. I have consulted widely, and when the tripartite committee submitted their reports, I reviewed them again and began to think and rethink.

“Last week, I presented the proposal to you because we have a timeline. We have a problem, and we recognize that you also have one. We are in the same economy, in the same country. We may have different rooms, addresses, and houses, but we are members of one family that must care for each other.

“We must consider the parameters of the situation. Here, I have a speed limit and must pay attention to traffic warnings: slippery when wet, curved roads, and avoid accidents. That is why I called this meeting today.

“We are driving this economy together. Let us agree on a three-year review period. Two years is too short. We affirm three years. We will review it.

“I am moving beyond the tripartite committee. I am pushing forward, considering the review we have done. No one in the federal establishment should earn less than N70,000. So, we will set the benchmark at N70,000.”

Reminding the masses of his campaign promises and slogan, the President said that to renew every Nigerian’s hope, the Government needs to provide the infrastructure that will facilitate their livelihood and create an enabling ground for the people to participate in and benefit from the economic activities of their country.

He also promised to look into the high cost of transportation by introducing Buses powered by Compressed Natural Gas. He then promised the deployment of the buses nationwide.

He stressed further by ensuring the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Universities and Allied Institutions (NASU) that their agitation will be addressed and all backlogs will be cleared by the Ministries of Finance and Budget & Economic Planning.

George Akume Addressing The Media

The Secretary to the Government of the Federation, Senator George Akume, thanked the President for his fatherly approach to issues and consideration after creating two meetings to resolve the problems of Minimum Wage.

He said, “Mr. President, at the tripartite meeting, and in the resolutions of the government, Organized Private Sector, and Labour unions, we were all united as one family to promote and grow our economy and deepen our democracy to the benefit of all. That is essentially what we are saying today. We have a listening President.”

The President of the NLC, Comrade Joe Ajaero, and the President of the TUC, Comrade Festus Osifo, thanked the President for attending the two meetings to resolve the new National minimum wage issue. They also commended and praised the President for his commitment to the welfare and comfort of the Nigerian workers.