President Bola Tinubu announced that a consensus has been reached on the new minimum wage between the Federal Government and organized labor. During his Democracy Day address on Wednesday, Tinubu stated that an executive bill will soon be sent to the National Assembly to formalize this agreement.
“In this spirit, we have negotiated in good faith with organized labor on a new national minimum wage,” Tinubu said. “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.”
The President emphasized his administration’s commitment to democratic principles, choosing cooperation over conflict with labor unions. “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. No one was arrested or threatened. Instead, the labor leadership was invited to break bread and negotiate toward a good-faith resolution. Reasoned discussion and principled compromise are hallmarks of democracy,” he stated.
Tinubu assured that he is committed to ensuring no Nigerian is oppressed. “I take on this vital task without fear or favor and commit myself to this work until we have built a Nigeria where no man is oppressed. Our national greatness will not be achieved by traveling the easy road, but by taking the right one.”
He urged Nigerians to remain hopeful and proactive. “We dare not slumber lest the good things awaiting our immediate future pass us by. We dare not plant our feet in an idle standstill in the middle of the intersection of hope and despair. We know the proper way forward and we shall take it! The initial rays of a brighter tomorrow now appear on the early horizon. An abundant future and our capacity to achieve that future lie within our reach. Democracy and the institutions it begets offer to take us to our profound destination. Let us board this progressive train together. Together, let us move Nigeria forward. Let’s keep the fire of democracy burning and the torch lit for generations to come.”
Earlier, on June 3, members of organized labor embarked on a nationwide indefinite strike over the Federal Government’s refusal to raise the proposed minimum wage from ₦60,000. This followed several failed meetings between the government and labor unions. On May 1, 2024, organized labor issued an ultimatum to the Federal Government, demanding the conclusion of the minimum wage negotiation by the end of the month. While the government and the Organized Private Sector agreed on ₦62,000, labor demanded ₦250,000.
Chris Onyeka, the Assistant General Secretary of the Nigeria Labour Congress, stated that labor would not accept the latest offer of ₦62,000 or the ₦100,000 proposal made by some individuals and economists.
