President Bola Tinubu has presented more justifications for the delay in implementing the new minimum wage.
President Tinubu stated that his administration was still in talks with labour groups in order to get an agreement on minimum salaries that would be fair and implementable by the federation’s 36 states.
He stated that his administration was considering the financial soundness of the states before deciding on a new national minimum wage that would apply to all industries.
“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.
However, organised labour has stated that it would not accept any excuse from state governments for failing to implement the higher minimum wage.
The new minimum wage is set to go into effect in April 2024, barring any last-minute changes.
