President Bola Tinubu has pledged to Organised Labour that an executive bill on the new national minimum wage for workers will be submitted to the National Assembly for consideration and passage. He made this announcement during his Democracy Day speech on June 12, 2024.
The President emphasized that the negotiations with Labour have been conducted in good faith and with open arms, and that the agreed-upon terms will be enshrined in law for the next five years or less. He expressed his commitment to ensuring that the new minimum wage is implemented to benefit workers across the country.
Tinubu also acknowledged the economic challenges facing the nation, stating that the reforms under his administration have caused hardship but are necessary to fix the economy.
He emphasized that the reforms are designed to ensure everyone has access to economic opportunities, fair pay, and compensation for their labor.
The President sympathized with the masses, acknowledging the difficulties they are facing. He highlighted the need for economic reforms, citing the nation's over-reliance on oil revenues as a major flaw in the economy. He called for the realization of economic democracy, ensuring that the economy is balanced and beneficial to all.
Tinubu reassured the people that he will always listen to their concerns and will not turn his back on them as the country continues to reform its economy.
