President Bola Ahmed Tinubu says he will approve what the state can afford as the new minimum wage, alerting the National Assembly to expect his memorandum on the final settlement.

The President made this known at the 25th Democracy Day Anniversary Dinner, at the Old Banquet Hall, Presidential Villa, Abuja.

According to him, the amount that would be forwarded for approval is one Nigerians can afford.

He said: “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.”

Recall, the negotiations between the Federal Government team alongside the Organised Private Sector, OPS and Organized Labour ended at a stalemate following the N62,000 from the initial N60,000. Organized Labour led by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) also reduced their demand from N494,000 to N250,000.

The last offer of N62,000 made by the government and the private sector and the demand of N250,000 by the labour are now before the President to perhaps harmonise and make the final approval and thereafter, send a bill to the National Assembly for enactment of law.