President Tinubu Asserts Minimum Wage Will Reflect Nigeria’s Economic Realities

President Bola Tinubu declared that Nigeria’s minimum wage will be determined by what the nation can afford.

Speaking at a dinner celebrating Nigeria’s 25 years of unbroken democratic rule, Tinubu said it is necessary to align the minimum wage with the country’s economic realities.

“The minimum wage is going to be what Nigerians can afford, what you can afford and what I can afford,” President Tinubu stated, addressing a gathering of dignitaries and officials in Abuja on Wednesday.

This pronouncement comes amid ongoing discussions and debates about the appropriate level for the national minimum wage.

The Organised Labour has been vocal in its demand for a significant increase, proposing a minimum wage of N250,000, far exceeding the N62,000 suggested by the federal government team in the Tripartite Committee on Minimum Wage.

In response to Tinubu’s statement, Labour leaders have reiterated their stance, refusing to accept what they term a “starvation minimum wage.”

Tinubu’s remarks also touched on the broader issue of food inflation, a critical concern for many Nigerians. The President acknowledged the role of banditry in exacerbating food scarcity and driving up prices.

“The promises I could make is to struggle to bring the food price down but those bandits must leave the farmers alone and bring Nigeria back to its glory of production and harvesting,” he said.

Highlighting the challenges posed by entrenched interests in the oil industry, Tinubu noted that those accustomed to significant profits over decades are resistant to changes that might disrupt their financial advantages.

This resistance, he argued, is part of the broader struggle Nigeria faces in its path to economic stability and growth.

Reflecting on the nation’s democratic journey, Tinubu expressed pride and optimism. He recounted a humorous incident from the morning’s Democracy Day parade, where he stumbled while performing the traditional Yoruba “dobale” (prostration). “Democracy is worth falling for,” he quipped, underscoring his deep commitment to the democratic process.

The President also addressed calls for fiscal prudence from various quarters, particularly in light of Labour’s demands. He urged Nigerians to manage their expectations realistically. “They ask you to cut your coat according to your size, if you have size at all,” he remarked, advocating for economic policies that reflect the nation’s financial realities.

Tinubu praised the spirit of unity and cooperation demonstrated by leaders across party lines, acknowledging the presence of governors from various states and parties at the dinner.

He reiterated the importance of national unity, saying “Is it not true that Nigeria is greater than any one of us? The unity of this country cannot be traded.”

The President also took a moment to reflect on criticisms regarding the reversal to the old National Anthem, defending the decision as part of Nigeria’s rich cultural heritage.

“If you cannot change the name Nigeria are you the creator of Nigerian name?” he queried, affirming his commitment to the country’s identity and unity.

As Nigeria looks to the future, President Tinubu called for collective effort and investment in national orientation to instill a sense of responsibility and patriotism in the younger generation.

“We will make Nigeria a tremendously successful country if we gather as we gather here tonight and encourage our children about the charter of our value system,” he stated.

In closing, Tinubu highlighted the importance of rejecting corruption and upholding integrity, praising customs officers in Kebbi and Ondo for their recent actions against bribery and vandalism.

“Citizenship is not just the dictionary meaning of it; it is the actual character in us, and we must teach these ones to achieve it,” he concluded.

The dinner was attended by notable personalities, including former Foreign Minister Bolaji Akinyemi, diplomat Babagana Kingibe, veteran journalist Segun Osoba, and political leaders Bisi Akande, Pius Akinyelure, and Lawal Shuaibu, among others.