- Govs suggest N100,000 national minimum wage
By Chesa Chesa
President Bola Tinubu on Friday declared that the removal of fuel subsidy by his administration saved Nigeria from imminent bankruptcy and laid the foundation for the gradual recovery of the nation’s economy.
Speaking during a Sallah celebration and third anniversary gathering with state governors, the President said the controversial policy, though painful, became necessary to rescue the country from fiscal collapse and restore economic stability.
The event was attended by governors from Lagos, Nasarawa, Jigawa, Sokoto, Kebbi, Taraba, Niger, Ekiti, Delta, Ondo, Edo, Adamawa, Benue, Enugu, Ogun and Kogi states, as well as the deputy governors of Borno and Kano states.
According to Tinubu, Nigeria had for years committed huge resources to an unsustainable subsidy regime that benefitted only a few individuals while depriving critical sectors of much-needed investment.
“It was challenging at the time, but we survived. We faced litigation and accusations. We survived them. Instead of bankruptcy, Nigeria has survived. The economy has recovered. It is growing. Agriculture is booming,” the President said.
Tinubu noted that ongoing reforms in infrastructure, agriculture, social investment, foreign exchange management and fiscal discipline were beginning to yield positive results through improved investor confidence and economic growth.
He also commended governors for supporting the administration’s reforms and persuading Nigerians to endure the hardship that accompanied the policies.
“I’m glad governors are no longer borrowing from the federal government and asking for interventions and not knowing how to survive or pay salaries. You kept the spirit and hope alive. Today, the benefits are showing,” he stated.
The President added that road construction and rehabilitation projects were progressing nationwide, while the housing sector and agriculture were also recording improvements.
“We will achieve food sovereignty if we utilise the land in your possession and in your various states effectively,” he said.
Tinubu assured Nigerians that his administration would continue implementing people-oriented policies aimed at reducing hardship, creating jobs, strengthening food security and promoting inclusive growth.
Vice President Kashim Shettima praised Tinubu’s courage in removing the subsidy and confronting entrenched interests in the oil sector.
“You did not come to power in a season of ease. You came at a time when the house required more than a carpenter. It required a builder with the courage to examine the foundation you inherited,” Shettima said.
He described the reforms as a “battlefield” rather than “a picnic for the chicken-hearted,” adding that the President had chosen to confront decades-old contradictions holding the country back.
Speaking on behalf of the Nigeria Governors’ Forum, Kwara State Governor Abdulrahman Abdulrazaq said the fuel subsidy removal and fiscal reforms had significantly improved the financial capacity of states.
According to him, many states were now able to clear salary and pension arrears, reduce debts and embark on critical infrastructure and social investment projects.
“I think the nation was shocked by the audacity of Mr President to implement that serious policy, but today it has benefited immensely from it,” Abdulrazaq said.
He added that many states no longer needed to issue bonds or borrow heavily to meet obligations, and suggested that the national minimum wage could eventually rise to N100,000.
Imo State Governor Hope Uzodinma, who chairs the Progressive Governors Forum, also commended Tinubu for stabilising the economy through bold reforms.
“You have virtually recovered Nigeria from the brink of collapse to a state of stability and survival,” Uzodinma said, adding that governors had assessed the President’s performance and scored him “100 per cent.”
Lagos State Governor Babajide Sanwo-Olu had earlier welcomed his colleagues to Lagos and thanked them for their continued support for the President and his administration.
