According to President Bola Tinubu, a new minimum wage for Nigerian workers is now being considered.
The President stated on Monday during a live broadcast that the budget will include funding for the agreement once it is reached between the government and the organized labor union.
Prior to the planned NLC and TUC demonstration against the withdrawal of the fuel subsidy, the President spoke to the nation on Monday.
Abuja, FCT - According to President Bola Tinubu, the federal government is collaborating with labor organizations to establish a new minimum wage standard for Nigerian workers.
On Monday, July 31, during a live broadcast on Channels Television that Legit.ng was watching, the president made the news.
While speaking to Nigerians about the suffering caused by the loss of the fuel subsidy, President Tinubu announced that a new minimum wage is on the way and that the Presidential Steering Committee would decide on palliatives.
The Federal Government and members of Organized Labor, notably the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), made up the Presidential Steering Committee on Palliatives.
The president said in his speech that his administration would include funding for the review in the budget as soon as the group came to an agreement on the minimum wage.
President Tinubu's May 29 declaration that "subsidy is gone" slammed the nation's economy hard with multiple inflation, which increased pressure on the average person's purchasing power.
The president applauded private companies in his speech for starting to raise the pay of their employees.
He said:
"In the same vein, we are also working in collaboration with the Labour unions to introduce a new national minimum wage for workers. I want to tell our workers this: your salary review is coming."
Following the president's speech, the PDP leader called the action a terrible waste of time in a statement.
After his administration eliminated the fuel subsidy without a clear strategy to mitigate its consequences on the impoverished Nigerians, Atiku claimed Tinubu's address was an afterthought.
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