Home Local News Minimum Wage: NASS Will Receive Executive Bill Soon – President Tinubu

Minimum Wage: NASS Will Receive Executive Bill Soon – President Tinubu

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President Bola Tinubu on Wednesday, announced that the National Assembly will soon receive an Executive Bill that will formalise the agreement reached between the organized labor unions and the federal government.

Tinubu made this announcement during his Democracy Day live broadcast stating that this decision will be part of the law for the next five years or less.

“In this spirit, we have negotiated in good faith and with open arms with organized 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,” President Tinubu said.

After unsuccessful negotiations for a new minimum wage, the Nigeria Labour Congress, (NLC) and TUC labor unions went on a nationwide strike last Monday. They are demanding a new wage and the reversal of the electricity tariff hike.

The labor unions argue that the current minimum wage of ₦30,000 is insufficient for the average Nigerian worker due to current inflationary pressures. They seek a more economically realistic offer from the government.

However, the labor leadership has agreed to suspend the strike for five days after reaching a commitment with the Federal Government to resume negotiations and establish a new minimum wage within a week.

The President reportedly directed Wale Edun, the Minister of Finance, instructions last Tuesday to provide the financial consequences of a new minimum wage within two days.

In order to establish a new, reasonable salary award for Nigerians, Tinubu also gave the government representatives instructions to collaborate with the organized private sector and the sub-nationals.

The President has reportedly received reports from all sides, and it is anticipated that he will decide and send an executive bill to the National Assembly for approval of a new minimum wage bill, which he would then sign into law.

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