In a decisive move, President Bola Tinubu has opted to allocate ₦500 million for the inauguration of a 37-member tripartite committee on the national minimum wage, rejecting a proposed budget of ₦1.8 billion.
Despite the initial request, Tinubu deemed the proposed sum excessive and instead sanctioned a more conservative budget. The decision underscores a commitment to fiscal prudence and efficient resource management.
“While acknowledging the importance of the committee’s work, it is imperative that we exercise fiscal responsibility,” Tinubu stated. “Therefore, I have approved ₦500 million for the inauguration.”
The rejection of the larger budget highlights a strategic approach to government spending, ensuring that resources are allocated judiciously to address pressing national priorities.
Nigeria’s economic stability remains a key focus, with Tinubu’s decision reflecting a dedication to prudent financial management in the face of evolving fiscal challenges.
