Janet Ogundepo
The President, Bola Tinubu has promised to implement a new national living wage for Nigerian workers in 2024.
He made this known in his first New Year speech to Nigerians on Monday.
Tinubu promised to work diligently to make sure every Nigerian feels the impact of governance.
He said, “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.”
Following the removal of the fuel subsidy on May 29, 2023, the Federal Government in September, announced a N35,000 wage award for workers, which was meant to last for six months.
In December, the PUNCH reported that the Minister of Information and National Orientation, Idris Mohammed, stated that the current N30,000 minimum wage would expire in March 2024, and a new wage regime would begin in April 2024.
An analysis of the 2024-2026 Fiscal Framework budgets indicated that the Federal Government would spend N2.66tn on salaries from 2024 to 2026.
Further speaking on his plans for Nigerians in the New Year, Tinubu explained that the fuel subsidy removal and the decision to float the naira against other currencies was to save the country from fiscal catastrophe.
He, however, reassured that he was committed to improving the living conditions of Nigerians.
Speaking on his plans for food security and supply, the president said, “To ensure constant food supply, security and affordability, we will step up our plan to cultivate 500,000 hectares of farmlands across the country to grow maize, rice, wheat, millet and other staple crops. We launched dry season farming with 120,000 hectares of land in Jigawa State last November under our National Wheat Development Programme.”
He further stated that the events of the past seven months had laid the groundwork of economic recovery plans which would “accelerate the pace of our service delivery across sectors.”
Tinubu also stated that the 2024 Budget prioritised national defence and internal security, job creation, macro-economic stability, investment environment optimisation, human capital development, poverty reduction and social security.
“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,” he noted.
Tinubu further stated that plans were underway to ultimately deliver a steady electricity supply and promised the full operation of the Port Harcourt and Dangote Refinery.
He pledged to fight every obstacle that impedes business competitiveness in the country.
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