PRESIDENT Bola Tinubu has assured Nigerians that he will submit a new minimum wage bill to the National Assembly soon.
He gave the assurance during his address commemorating the June 12 Democracy Day celebrations on Wednesday morning.
In his speech, Tinubu acknowledged the hardships faced by most Nigerians, stating that the bill would make the agreed terms part of the nation’s law for the next five years or less.
He stated that the bill would formalise the agreements from the ongoing minimum wage negotiations by organised labour, the private sector, and the state and federal governments, which have been on for several weeks.
The President’s promise came amid growing demands from workers and Nigerians for an increased minimum wage to address inflation and the rising cost of living.
Although the government’s proposal of N62,000 represents about a 100 per cent increase from the current minimum wage of N30,000, organised labour has demanded a much higher figure, pegging its earlier N615,000 to N250,000.
The development was on the heels of governors’ opposition to the N60,000 minimum wage initially proposed by the federal government.
Meanwhile, Tinubu highlighted that during the new minimum wage discussions, his administration didn’t clamp down on workers which he described as a tool of dictatorial government.
“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.
“In the face of labour’s call for a national strike, we did not seek to oppress or crack down on the workers as a dictatorial government would have done. We chose the path of cooperation over conflict.
“No one was 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. These themes shall continue to animate my policies and interaction with the constituent parts of our political economy,” he said.
Speaking on hardship in the country, the President acknowledged the economic challenges the nation faces, and noted that they justified the necessity of the reforms his administration instituted.
According to him, Nigeria’s economy has been in desperate need of reform for decades.
He further noted that the economy had been unbalanced, arguing that it was built on the flawed foundation of over-reliance on oil revenues.
“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.
“As we continue to reform the economy, I shall always listen to the people and will never turn my back on you.”
The ICIR reported that organised labour, consisting of Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) had rejected the federal government’s N60,000 offer as minimum wage.
The rejection resulted from the failure of the federal government to agree with the union’s N615, 000 demand.
The workers embarked on a strike on Monday, June 3, and relaxed the action the following day, after the parties agreed on some terms.
Usman Mustapha is a solution journalist with International Centre for Investigative Reporting. You can easily reach him via: [email protected]. He tweets @UsmanMustapha_M