President Bola Ahmed Tinubu has stated that Nigeria will only pay a minimum wage it can afford, even though the Nigeria Labour Congress has rejected the N62,000 offer.

Speaking at the 25th Democracy Day Anniversary Dinner at the State House Conference Centre on Wednesday night, Tinubu addressed the issue directly.

“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 what Nigeria can afford, what you can afford, what I can afford. They ask you to cut your coat according to your size,” he said.

The President urged the National Assembly to expect his memorandum on this matter soon. He emphasized that while the government is committed to doing what is necessary, it must also remain within its financial limits.

This declaration came amid ongoing negotiations between the federal government, organized private sector, and organized labor.

The last sitting of the Tripartite Committee on minimum wage in Abuja saw the government and private sector proposing N62,000, while the NLC and Trade Union Congress reduced their demand from N594,000 to N250,000.

In response, the NLC issued a statement clarifying that no agreement had been reached. “We attentively listened to the Democracy Day Presidential address delivered by President Tinubu, especially concerning the ongoing National Minimum Wage negotiations. While the President may have accurately recounted parts of our democratic journey’s history, it is evident that he has been misinformed regarding the outcome of the wage negotiation process,” the statement read.

The NLC continued, “Our demand still remains N250,000 only and we have not been given any compelling reasons to change this position which we consider a great concession by Nigerian workers during the tripartite negotiation process.”

The NLC expressed surprise at the President’s announcement of a supposed agreement, stating, “We believe that he may have been misled into believing that there was an agreement with the NLC and TUC. There was none and it is important that we let the President, Nigerians, and other national stakeholders understand this immediately to avoid a mix-up in the ongoing conversation around the national minimum wage.”

Information and National Orientation Minister Mohammed Idris also emphasized the need for a sustainable wage system that balances workers’ needs with the country’s economic realities.

The President’s announcement highlighted his commitment to financial prudence while addressing the demands of organized labor.

Tinubu assured that the government would continue to engage in discussions to reach a feasible solution for all parties involved.