President Bola Tinubu on Thursday explained why he had to intervene in the negotiations for the new national minimum wage.

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He said he considered the economic challenges faced by many Nigerians and the urgent need to provide relief.

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This is outlined in a statement by Ajuri Ngelale, Special Adviser to the President (Media & Publicity).

In a meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja, the President increased the federal government’s offer on the national minimum wage from N62,000 to N70,000, with an assurance that it will be reviewed after three years, instead of five years.

According to the statement, President Tinubu told the Labour leaders: “I have heard all your presentations. You came here with the intention to secure something on behalf of your members.

It has been tough globally. And if you review my track record, I have never been found wanting in addressing the problems of workers. I belong to the people and to all of you in leadership. Without you, this job is not fulfilling.

“You have challenged the leadership’s thinking, and we have reviewed the position. I have consulted widely, and when the tripartite committee submitted their reports, I reviewed them again and began to think and rethink.

“Last week, I presented the proposal to you because we have a timeline. We have a problem, and we recognize that you have a problem too. We are in the same economy, in the same country. We may have different rooms, different addresses, and different houses, but we are members of one family that must care for each other.

“We must consider the parameters of the situation. Here, I have a speed limit, and I must pay attention to traffic warnings: slippery when wet, curved roads, and be careful to avoid accidents. That is why I called this meeting today.

“We are driving this economy together. Let us agree on a review period of three years. Two years is too short. We affirm three years. We will review it.

“I am moving beyond the tripartite committee. I am pushing forward, considering the review we have done. No one in the federal establishment should earn less than N70,000. So, we will set the benchmark at N70,000.”

President Tinubu explained that renewing the hope of Nigerians involves providing infrastructure that will improve their livelihoods and create an inclusive economy in which everyone can participate and benefit.

He said the government was committed to reducing the cost of transportation with the introduction of Compressed Natural Gas-powered buses, which will be cheaper and more efficient. He also assured the labour unions that buses will be deployed across the country.

The President added that the entitlements of members of the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Universities and Allied Institutions (NASU) would be considered, urging the Ministries of Finance and Budget & Economic Planning to explore the possibilities of clearing the backlog.

The statement noted that, at the meeting, the Secretary to the Government of the Federation, Senator George Akume, thanked the President for his consideration of the issues as the “Father of the Nation” and for scheduling two meetings to resolve the initial impasse.

“Mr. President, at the tripartite meeting, and in the resolutions of the government, Organized Private Sector, and labour unions, we were all united as one family to promote and grow our economy and deepen our democracy, to the benefit of all. That is essentially what we are saying today. We have a listening President,” the Secretary to the Government of the Federation said.

The President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, and the President of the Trade Union Congress (TUC), Comrade Festus Osifo, thanked the President for hosting two meetings on the review of the national minimum wage.

According to the statement, the two labour leaders acknowledged that, at the last meeting, the President had rescheduled an official trip to attend the second meeting.

The labour leaders also expressed their appreciation to the President, applauding him for his clear commitment to the welfare of Nigerian workers.