Minimum WagePrioritizes Economic Realities, Reviews Minimum Wage, and Addresses Subsidy Removal

President Tinubu Emphasizes Economic Realities: During a meeting with the Progressive Governors Forum (PGF), President Tinubu expressed his administration’s commitment to reviewing the current N30,000 minimum wage to align with global realities. He underscored the importance of improved livelihoods for Nigerians and acknowledged the need for a comprehensive review of the national minimum wage to reflect present circumstances.

Pledge to Streamline Multiple Exchange Rates: President Tinubu assured the governors that his administration would consolidate the multiple exchange rates, emphasizing the continuity of governance. He acknowledged the responsibility of managing inherited assets and liabilities while reiterating his commitment to work collaboratively with the governors to strengthen the country’s revenue base and address economic challenges.

Support for Subsidy Removal and Economic Development: The Progressive Governors Forum (PGF) expressed its support for the federal government’s decision to remove petrol subsidy, emphasizing its unsustainability and the need to redirect resources toward the development of states. However, the forum also voiced concern over the sudden increase in petrol prices following the president’s inaugural speech and called for unity among Nigerians to rally behind the government’s decision.