President Muhammadu Buhari, on Tuesday said he is fully committed to having a new National Minimum Wage Act in the very near future.
The President made the disclosure while receiving the tripartite report of the committee set in 2017 up to review the new minimum wage. Labour and government had reached a truce on N30 thousand per worker, therefore paving the way for the strike to be suspended.
He acknowledged that the exercise became necessary considering the fact that the last review took place in 2011, adding: “We all know since then, the prices of key consumables have increased and the most vulnerable of our workers are struggling to make ends meet.
According to him, since 2011, many changes have taken place as Nigeria rebased its GDP to become the largest economy in Africa.
He added that the country recorded very strong GDP growth rates and exceptional performance of our capital markets, however these reported successes did not flow into the pockets and homes of majority of Nigerians.
In the last three years, he said his administration focused on correcting this deficiency through working to create a diversified and inclusive economy.
“We are pushing to clear pension arrears owed to our retired workers with the limited resources available to us.
“We supported state governments to pay workers salary. And of course, we set up a committee in order to review the minimum wage of workers.
“On behalf of all Nigerians today, I want to thank you for your commitment and sacrifice in getting us to where we are today.
“In the past few days, I have been receiving regular updates on your deliberations. And today, I am pleased that you have completed your work in a peaceful and non-confrontational manner. The entire nation is grateful to you all.” he said.
The President assured that necessary machinery will be put in place to close out these open areas. Our plan is to transmit the Executive Bill to the National Assembly for passage within the shortest possible time, he stressed.
He said: “I am fully committed to having a new National Minimum Wage Act in the very near future.
May I therefore, employ workers and their leaders not to allow themselves to be used as political weapons.”