President Bola Tinubu has affirmed that he will approve a new minimum wage that the Nigerian government can sustain. He made this announcement on Wednesday during a dinner in Abuja, held to celebrate Nigeria’s 25 years of uninterrupted democracy. The event was attended by Senate President Godswill Akpabio, Deputy Senate President Jibrin Barau, and other top government officials.

In his speech, President Tinubu expressed gratitude to those who have supported him over the years and reassured Nigerians of his commitment to democratic principles. He specifically addressed the Senate leadership, indicating that an Executive Bill on the new minimum wage would be sent to them soon.

“The minimum wage will be what Nigerians can afford, what you can afford, and what I can afford. Cut your coat according to your size,” Tinubu stated.

President Tinubu also pledged to address the issue of banditry, which has driven many farmers away from their land, with the aim of reducing food prices.

Reacting to President Tinubu’s Democracy Day broadcast, in which he promised to send a minimum wage bill to the National Assembly, the Nigerian Labour Congress (NLC) reiterated its demand for a minimum wage of N250,000. This follows the submission of cost implications for a new minimum wage by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. The government and the Organised Private Sector proposed N62,000, while the Labour unions insisted on N250,000.

The Tripartite Committee’s failure to reach an agreement resulted in these differing figures being submitted to President Tinubu. He is now expected to review the reports and forward an executive bill to the National Assembly to establish a new minimum wage law.