In an effort to address the current economic realities facing Nigeria, President Bola Tinubu has pledged to conduct a thorough review of the minimum wage. During a meeting with members of the Progressive Governors Forum on Friday, President Tinubu emphasized the need for both the federal and state governments to assess the minimum wage and bolster the country’s revenue sources.
Recognizing the importance of recalibrating the minimum wage to align with the economic conditions of the nation, President Tinubu stated, “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.”
Addressing the governors from the Imo’s Hope Uzodimma-led forum, President Tinubu acknowledged the responsibilities he has inherited from his predecessor. This meeting marked the first time the governors entered the Council Chambers, and it was President Tinubu’s inaugural meeting as well. He emphasized the significance of the All Progressives Congress (APC) in educating the populace and managing the affairs of the country.
President Tinubu assured the governors that the multiple exchange rates currently in place would be streamlined, stating, “If we work together, the Nigeria of our dreams is not far away. Rest 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.”
Expressing their support for the President, Governor Uzodimma, speaking on behalf of the Progressive Governors Forum, pledged their commitment and highlighted the positive intentions President Tinubu has demonstrated for the economy through the decisions he has already taken.
President Tinubu’s determination to review the minimum wage and strengthen the country’s revenue sources reflects his administration’s proactive approach to address the economic challenges facing Nigeria. With the support of the Progressive Governors Forum, it is hoped that these measures will contribute to a more robust and sustainable economic future for the nation.