President Bola Tinubu has revealed that a new minimum wage will be approved for workers in the new year.
Tinubu made this known during his new year broadcast on Monday.
He said, “It is a morally and politically correct thing to do.No excuse for poor performance from any of my appointees will be good enough.
“We will work diligently to make sure every Nigerian feels the impact of their government. The economic aspirations and the material well-being of the poor, the most vulnerable and the working people shall not be neglected.
“It is in this spirit that we are going to implement a new national living wage for our industrious workers this new year. It is not only good economics to do this, it is also a morally and politically correct thing to do.”
It would be recalled that the Federal Government had in December 1 said a new minimum wage regime would come into effect on April 1, 2024.
The Minister of Information and National Orientation, Idris Mohammed, who disclosed this in Abuja, said the current N30,000 minimum wage would expire at the end of March 2024.
Mohammed made this known during as an analysis of the 2024 –2026 Fiscal Framework budgets by our correspondents indicated that the Federal Government would spend N24.66tn on salaries in 2024, 2025, and 2026.
Following the removal of the fuel subsidy by President Bola Tinubu on May 29, 2023, the Federal Government agreed to pay N35,000 to each of its workers to cushion the effect of the subsidy removal.
