President Tinubu’s Plan to Review Minimum Wage with Governors

President Bola Tinubu has pledged to reassess the national minimum wage in line with the current economic realities facing Nigeria. He believes that both federal and state governments should collaboratively reconsider the minimum wage, while also bolstering the sources and utilization of the nation’s revenue.

President Tinubu disclosed these insights on Friday during a meeting with members of the Progressive Governors Forum, who expressed their support for his proposed subsidy removal.

In a conversation with the Imo’s Hope Uzodimma-led forum, President Tinubu expressed the necessity of reevaluating the minimum wage, stating, “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.”

The president also addressed the governors, emphasizing the assets and liabilities he has inherited from his predecessor. He noted, “This is the first time you entered the Council Chambers, and it is my first time too for a meeting.”

Furthermore, Tinubu provided assurance that the multiple exchange rates currently prevalent in the country would be streamlined, stating, “Rest assured that we will not have multiple exchange rates anymore.”

Speaking on behalf of the PGF, Uzodimma pledged his support for the President, asserting that President Tinubu’s decisions signify positive intentions for the economy.

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