President Bola Tinubu has provided more reasons for the delay in the implementation of the new minimum wage....CONTINUE READING
President Tinubu noted that his government was still discussing with the labour leaders to agree on minimum wages that will be fair and implementable by the 36 states of the federation.
He disclosed that his government was taking into account the financial strength of the states before deciding on a new minimum wage that would be applicable across all sectors countrywide.
“I understand the concerns regarding the unveiling of the new minimum wage and how states will manage these changes, especially those with fewer resources.
To address this, my administration has approved a provisional increase in the federal minimum wage to N35,000 per month for a six-month period, two months of which have already been paid,” Tinubu said.
“This decision follows extensive consultations with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).
In managing the situation with the states, we are working closely with them to ensure the new wage structure is practical and sustainable. It’s important that each state’s unique financial situation is considered.
We are focused on strategies to help states strengthen their economies, considering factors like tax efficiency and economic diversification.
“We are committed to ongoing dialogues with labour unions and state governments. This collaborative approach is crucial to ensure that the new minimum wage is fair, reasonable, and implementable across all states.
Our goal is to balance the economic well-being of our workers with the overall financial health of the nation. We ask Nigerians to be rest assured that our administration will not rest until we have delivered a sustainable solution in the best interest of Nigerians,” he added.
But the organized labour has declared that it would not accept any excuse from state governments on the implementation of the new minimum wage.
Baring any last minute change, the new minimum wage is expected to come into effect from April 2024…CONTINUE READING>>
