President Tinubu Breaks Silence on New Minimum Wage

President Bola Tinubu has broken his silence on the issue of a new national minimum wage, which has been the subject of intense negotiations between the government and organized labour.

In a national broadcast marking the 25th anniversary of Nigeria's democracy, President Tinubu revealed that his administration is putting the finishing touches on a draft bill for a consensus minimum wage, which will be sent to the National Assembly for passage soon.

The President assured Nigerians that his administration has always been receptive to the demands of labour, even when they embarked on strikes that harmed the country.

Tinubu said, "I understand the economic difficulties we face as a nation.

"Our economy has been in des­perate need of reform for decades. It has been unbalanced because it was built on the flawed foundation of over-reliance on revenues from the exploitation of oil.

"The reforms we have initiat­ed are intended to create a stron­ger, better foundation for future growth. There is no doubt the re­forms have occasioned hardship. Yet, they are necessary repairs required to fix the economy over the long run so that everyone has access to economic opportunity, fair pay and compensation for his endeavour and labour.

"As we continue to reform the economy, I shall always listen to the people and will never turn my back on you.

"In this spirit, we have negoti­ated in good faith and with open arms with organised 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.

"In the face of labour's call for a national strike, we did not seek to oppress or crack down on the work­ers as a dictatorial government would have done. We chose the path of cooperation over conflict.

"No one was arrested or threat­ened. Instead, the labour leadership was invited to break bread and negotiate toward a good-faith res­olution.

"Reasoned discussion and prin­cipled compromise are hallmarks of democracy. These themes shall continue to animate my policies and interaction with the constitu­ent parts of our political economy.

"I take on this vital task without fear or favour and I commit myself to this work until we have built a Ni­geria where no man is oppressed".