President Bola Tinubu announced on Wednesday night that the new minimum wage would be determined based on what is financially feasible for the country. Speaking at the 25th Democracy Day Anniversary Dinner held at the Old Banquet Hall of the Presidential Villa in Abuja, Tinubu indicated that he would soon send a proposal to the National Assembly regarding the minimum wage settlement.

He noted that the amount forwarded to the National Assembly would reflect what Nigerians can reasonably afford. Recently, negotiations concluded with the Federal Government and the Organised Private Sector (OPS) slightly increasing their offer from N60,000 to N62,000. Meanwhile, organized labor reduced its demand from N494,000 to N250,000. The final decision now rests with President Tinubu, who will harmonize these figures and send a bill to the National Assembly for legislative approval.

Addressing the Senate President, Godswill Akpabio, and other officials at the dinner, Tinubu emphasized that the government would fulfill its responsibilities but only commit to what is financially sustainable. “Senate President, Deputy Senate President, you’ll get a notice from me. If I’ve changed my mind on minimum wage, we’re going to do it, what Nigeria can afford, what you can afford, what I can afford. They ask you to cut your coat according to your size, if you have size at all,” he stated.

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President Tinubu also addressed an incident at Eagle Square earlier in the day, where he stumbled while approaching the parade inspection vehicle. He explained that he was performing a traditional Yoruba gesture of respect, known as “dobale,” emphasizing that democracy is worth such symbolic acts. “June 12 represents the heart and soul of our democratic struggle in the country. Early this morning (Wednesday), I had a swagger and it’s on the social media. They are confused about whether I was doing buga or doing babaringa but it is a day to celebrate democracy while doing ‘dobalee’ for today. I am additionally Yoruba boy, I did my dobale. Democracy is a day that is worthy of falling for,” he remarked.

The dinner was attended by prominent pro-democracy figures, including Prof. Bolaji Akinyemi, Chief Segun Osoba, Senator Shehu Sani, George Mbah, and Minister of Solid Minerals, Mr. Dele Alake, who all highlighted Tinubu’s contributions to Nigeria’s democratic journey.

Other notable attendees included Senate President Godswill Akpabio; Deputy Senate President Jibrin Barau; Speaker of the House of Representatives Tajudeen Abbas; Deputy Speaker Benjamin Kalu; Chief Justice of Nigeria Olukayode Ariwoola; Secretary to the Government of the Federation Senator George Akume; National Security Adviser Nuhu Ribadu; Chief of Staff to the President Femi Gbajabiamila; and Nana Shettima, the wife of the Vice President.