Full Text: President Buhari Approves N30,000 New Minimum Wage

 


President Muhammadu Buhari on Wednesday approved N30,000 as the new national minimum wage.

He gave the underwriting while at the same time accepting the report of the Tripartite Committee on the Review of National Minimum Wage at the Presidential Villa, Abuja.

Buhari said thanks to the board of trustees and repeated his administration resolve for better welfare for Nigerian laborers.

His full discourse underneath in the wake of accepting the report beneath:

“On 27th November 2017, I introduced the National Minimum Wage Committee with a command to suggest another lowest pay permitted by law for the laborers of our nation.

“This activity ended up essential for some reasons. The last survey occurred in 2011. We as a whole know from that point forward, the costs of key consumables have expanded and the most helpless of our laborers are attempting to bring home the bacon.

“Since 2011, numerous progressions have occurred. Nigeria rebased its GDP to wind up the biggest economy in Africa. We announced extremely solid GDP development rates and uncommon execution of our capital markets. Be that as it may, these revealed victories did not stream into the pockets and homes of larger part of Nigerians.

“Over the most recent three years, we concentrated on adjusting this lack. We are attempting to make a broadened and comprehensive economy.

“We are pushing to clear benefits back payments owed to our resigned specialists with the restricted assets accessible to us.

“We bolstered State Governments to pay specialists compensation. What’s more, obviously, we set up a council with the end goal to survey the lowest pay permitted by law of laborers.

“In constituting this committee, we took into account the need for all stakeholders to be adequately represented – the government, the private sector and most importantly the workers. Our goal was to get an outcome that was consensual.

“From the onset, we knew the committee had a difficult task ahead of it. But at the same time, we were also confident that the patriotic and professional background of its members would produce realistic, fair and implementable recommendations that will be considered by both the executive and legislative arms of government.

“I am not surprised that the committee has worked for close to one year. I am also not surprised that on a few occasions, the debates got heated and sometimes, these differences came out.

“What is truly inspiring is that, in almost all instances of disagreements, the committee members always came back to the negotiating table with a common goal of improving the welfare of Nigerian 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.

“The Committee Chairman highlighted some of the challenges encountered during your deliberations, especially as it relates to having a consensus position acceptable by all parties.

“I understand, on the government side, the concerns raised were around affordability – that today many states struggle to meet their existing salary requirements.

“On the side of labour, the points raised focused on the need for any increase to be meaningful.

“In a way, both arguments are valid. I want to assure you all that we will immediately put in place the necessary machinery that will close out these open areas. Our plan is to transmit the Executive Bill to the National Assembly for passage within the shortest possible time.

“I am fully committed to having a new National Minimum Wage Act in the very near future.

“Let me use this opportunity to recognize the leadership of the organized labour and private sector as well as representatives of State and Federal Governments for all your hard work. The fact that we are here today, is a notable achievement.

“As the Executive Arm commences its review of your submission, we will continue to engage you all in closing any open areas presented in this report. I therefore would like to ask for your patience and understanding in the coming weeks.

“May I therefore, employ workers and their leaders not to allow themselves to be used as political weapons.

“Thank you and may God bless our country.”

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