President Tinubu said on Wednesday that the reforms introduced by his administration have inflicted unintended hardship to Nigerians.
The president stated this in his nationwide broadcast to mark the 25th Anniversary of Democracy Day since the dawn of the fourth republic in 1999.
He said the economy had been in desperate need of reform for decades stressing that it (economy) “has been unbalanced because it was built on the flawed foundation of over-reliance on revenues from the exploitation of oil.
The reforms we have initiated are intended to create a stronger, better foundation for future growth. There is no doubt the reforms have occasioned hardship. Yet, they are necessary repairs required to fix the economy over the long run so that everyone has access to economic opportunity, fair pay and compensation for his endeavour and labour,” he said.
As the government rolled out more reforms, Tinubu said he “ shall always listen to the people and will never turn my back on you.
On the vexed minimum wage issue, the president said he would soon send an executive bill to the national assembly to “enshrine what has been agreed upon as part of our law for the next five years or less.”
“In this spirit, we have negotiated in good faith and with open arms with organised labour on a new national minimum wage. We shall soon send an executive bill to the national assembly to enshrine what has been agreed upon as part of our law for the next five years or less.”
