President Bola Ahmed Tinubu has announced that the Federal Government will soon submit an executive bill to the National Assembly to formalize agreements reached with organized labour regarding a new minimum wage.
In his second Democracy Day speech on June 12, 2024, President Tinubu highlighted the constructive negotiations that have taken place between the Federal Government and organized labour.
“We have negotiated in good faith and with open arms with organized 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,” Tinubu stated.
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The president emphasized that, in response to labour’s calls for a national strike, the government opted for cooperation rather than conflict. “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 towards a good-faith resolution.”
While President Tinubu did not disclose the exact amount of the new minimum wage, he acknowledged that organized labour had previously rejected the N62,000 proposed during the Tripartite Committee on National Minimum Wage discussions.
