President Bola Tinubu announced that the Federal Government and organized labor have reached an agreement on a new national minimum wage.
He revealed this during his national broadcast in Abuja on Wednesday, marking the 2024 Democracy Day.
Tinubu disclosed that an executive bill to formalize this agreement would soon be submitted to the National Assembly.
“We have negotiated in good faith and with open arms with organized labor on a new national minimum wage,” Tinubu stated. “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.”
Emphasizing the democratic approach of his administration, Tinubu noted, “In the face of labor’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.”
He highlighted that instead of resorting to threats or arrests, the government invited labor leaders to negotiate, aiming for a resolution rooted in reasoned discussion and principled compromise.
“No one was arrested or threatened. Instead, the labor leadership was invited to break bread and negotiate toward a good-faith resolution,” he said. “These themes shall continue to animate my policies and interaction with the constituent parts of our political economy.”
