President Bola Tinubu of Nigeria reaffirmed his commitment to economic reforms despite rising hardships, announcing plans to submit an executive bill to parliament for a new minimum wage.
Tinubu, in office for a year, tackled long-standing issues such as the petrol subsidy and currency devaluation, resulting in high inflation.
He acknowledged the difficulties caused by these reforms but emphasized their importance for future growth. Labour unions, amidst the worst cost-of-living crisis in decades, suspended a strike for a new minimum wage.
Tinubu proposed doubling it to 62,000 naira a month, with negotiations ongoing.
A bill to formalize this agreement will soon be presented to the National Assembly, awaiting further response from Tinubu.