Tinubu: We Will Review Minimum Wage to Reflect Current Realities

*Identifies welfare, security of Nigerians as priorities

Deji Elumoye in Abuja

President Bola Tinubu has expressed his administration’s readiness to review the present N30,000 National Minimum Wage, so that it would be in tandem with current global realities.
According to him, security and improved livelihood for Nigerians remain priorities of his government, with more people-focused economic policies.
The President, who spoke yesterday while receiving members of the Progressive Governors Forum (PGF), led by their Chairman, Hope Uzodinma of Imo State, at the State House, Abuja yesterday, said the national and sub-national governments would work together on the minimum wage, which already requires “soul searching.”

He said: “We need to do some arithmetic and soul searching on the minimum wage. We will have to take a look at that together, and the revenue. We must strengthen the source and application of our revenue.”
President Tinubu urged the governors to seize the opportunity of being chosen among millions of citizens in their states to make a difference in the lives of people, adding that he would work for the benefit of Nigerians.

According to him: “This meeting is not strange to me, and the content of the meeting is so valuable. The camaraderie is very stimulating. This is about the Nigerian project, not Bola Tinubu.”

The President also said the multiple exchange rates would be streamlined, noting that governance was a continuum.
“I have inherited the assets and liabilities of my predecessor. This is the first time you entered the Council Chambers, and it is my first time too for a meeting.
“As progressives and thinkers under the umbrella of the All Progressives Congress (APC), you have a role to play in educating our people and making sure we manage ourselves,” the President told the governors.

President Tinubu said it was a good and encouraging sign that the APC has a majority in the National Assembly and some Houses of Assembly, which would make it easier to develop policies that would directly impact the economy and the people.
“If we work together, the Nigeria of our dreams is not far away. Be assured that we will not have multiple exchange rates anymore. You asked for this meeting, and I had to set aside time to be here.

“We have a political party that we will need to manage, whichever way, we have inherited assets and liabilities, and we cannot complain,” he stated.
The President said he would maintain an open-door policy, willing to entertain issues, deliberate, and collectively find solutions to the challenges facing the country, including security.

“It is in our hands, and I am ready to work and listen at any time,” he added.
Vice President Kashim Shettima, in his remarks, called on the governors to rally around the President as he tackles the challenges that stagnate the economy, like the oil subsidy and multiple exchange rates.
Earlier, Uzodinma, pledged the support of the Progressive Governors to the President, noting that his initial decisions already foretell good intentions for the economy.

The PGF also threw its weight behind the federal government’s decision to remove petrol subsidy but expressed concern over the sudden hike in petrol prices following Tinubu’s inaugural speech.
Addressing newsmen after the meeting with the President, Uzodinma, condemned the price increase on what he describes as “old stock” and called on Nigerians to rally behind the government’s decision to remove the subsidy.
According to him, the subsidy was no longer sustainable as the country had been having to borrow money to pay for it, and that the National Economic Council (NEC) had already voted against it.

Uzodinma said: “It has gotten to a point that it is either that, which is no longer sustainable, is managed or there will be no Nigeria and all of us are committed to the success and unity of the country and the last appropriation, which is law, made provision for subsidy up till June. The President, who has just been sworn-in a few days ago, has not prepared any budget, and he’s under oath to respect the laws of the land and one of these laws is 2023 Appropriations Acts.

“So, it is not new and I want you people to help this situation because collectively, only by working together, we can save the country. I thought that what we should be saying now is, in the absence of subsidising petroleum products, how are we going to make this product available to Nigerians.”