President Tinubu Urges Realistic Expectations on Minimum Wage Amid Economic Challenges

President Bola Ahmed Tinubu has urged realistic expectations regarding the minimum wage, emphasizing the need for prudent financial management. In a meeting with the leadership of the Nigeria Labour Congress (NLC), led by Comrade Joe Ajaero, and the Trade Union Congress of Nigeria (TUC), led by Comrade Festus Osifo, on Thursday in Abuja, Tinubu acknowledged that Nigerian workers deserve improved welfare, better wages, and enhanced working conditions, recognizing them as the driving force of the nation.

“I pay attention to everything around me. A happy worker is a productive worker. And society depends on the productivity of the happy worker. You have to cut your coat according to available cloth. Before we can finalize on the minimum wage process, we have to look at the structure,” Tinubu stated. He questioned the current practice of adjusting wages every five years and suggested exploring more dynamic and pragmatic approaches.

NLC President, Comrade Ajaero, stressed the necessity of an upward adjustment to the minimum wage, noting the difficulties faced by Nigerian workers. “Between living wage and minimum wage, we need to find a balance. Things are difficult for the Nigerian worker,” Ajaero said. He also congratulated President Tinubu on the Supreme Court judgment affirming the constitutional rights of Local Governments to financial autonomy, a cause for which the NLC has long advocated.

TUC President, Comrade Osifo, highlighted the adverse effects of inflation on the Naira’s value and urged prompt implementation of government measures to address rising costs of food and transportation. He commended the rollout of Compressed Natural Gas-powered buses as a measure to curb high transportation costs and praised the recent directive to suspend duties on certain food imports, which he believes will reduce food prices if properly implemented.

Further discussions have been scheduled for next week to allow for broader consultation with all stakeholders.

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