Democracy Day: President Tinubu Announces Unified Minimum Wage Legislation Amidst Economic Reforms (Video)| #NwokeukwuMascot

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In a nationwide broadcast marking the 25th anniversary of Nigeria's democracy, President Bola Tinubu announced that his administration is finalizing draft legislation for a unified minimum wage, which will soon be presented to the National Assembly for approval.

President Tinubu addressed the nation, acknowledging the economic challenges facing Nigeria. He stated, "I understand the economic difficulties we face as a nation. Our economy has been in desperate need of reform for decades. It has been unbalanced because it was built on the flawed foundation of over-reliance on revenues from the exploitation of oil."

He emphasized that the government's reforms are aimed at establishing a more robust foundation for future growth. "The reforms we have initiated are intended to create a stronger, better foundation for future growth. There is no doubt the reforms have occasioned hardship. Yet, they are necessary repairs required to fix the economy over the long run so that everyone has access to economic opportunity, fair pay, and compensation for their endeavor and labor," Tinubu said.

The president reiterated his commitment to listening to the people and remaining responsive to their needs. "As we continue to reform the economy, I shall always listen to the people and will never turn my back on you."

In his speech, President Tinubu highlighted the government's negotiation efforts with organized labor regarding the new national minimum wage. "In this spirit, we have negotiated in good faith and with open arms with organized labor on a new national minimum wage. We shall soon send an executive bill to the National Assembly to enshrine what has been agreed upon as part of our law for the next five years or less."

Addressing concerns over potential labor unrest, the president noted the government's commitment to cooperation rather than conflict. "In the face of labor’s call for a national strike, we did not seek to oppress or crack down on the workers as a dictatorial government would have done. We chose the path of cooperation over conflict. No one was arrested or threatened. Instead, the labor leadership was invited to break bread and negotiate toward a good-faith resolution."

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Tinubu emphasized the importance of democratic principles in resolving disputes. "Reasoned discussion and principled compromise are hallmarks of democracy. These themes shall continue to animate my policies and interaction with the constituent parts of our political economy."

Concluding his address, President Tinubu committed himself to building a more equitable Nigeria. "I take on this vital task without fear or favor, and I commit myself to this work until we have built a Nigeria where no man is oppressed."