President Bola Tinubu, in a recent interview with The Nation, shared insights into the delay in implementing the new minimum wage in Nigeria. Emphasizing the need for fairness and practicality, he highlighted the varying financial capacities of states, especially those with limited resources.
Expressing concern about states’ ability to sustain the new wage, Tinubu assured that the federal government is actively collaborating with states and labor unions to ensure a balanced and sustainable solution. He acknowledged the complexities involved, considering that the previous minimum wage hasn’t been fully adopted nationwide.
In the interim, President Tinubu revealed a provisional increase in the federal minimum wage to N35,000 per month for a six-month period. He disclosed that two months’ worth has already been disbursed to workers. This decision, made in consultation with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), aims to address immediate concerns while comprehensive discussions continue.
In his words:
“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. 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 rest assured that my administration will not rest until we have delivered a sustainable solution in the best interest of Nigerians,” President Tinubu said.