By Milcah Tanimu

Adesoji Akanbi, a former member of the National Assembly representing Oyo South Senatorial District, has urged all stakeholders involved in the minimum wage negotiations to adopt a pragmatic approach to ensure a fair and prompt resolution.

Akanbi emphasized the importance of considering the economic realities, particularly the fluctuations in government revenue, notably from oil, which forms the backbone of Nigeria’s economy.

Highlighting the volatility of crude oil prices, Akanbi pointed out the recent decrease from $124 to $90 per barrel, citing concerns over future fluctuations, especially with Angola’s withdrawal from OPEC due to supply limitations.

In his statement released in Ibadan, Akanbi called upon both federal and state governments to prioritize reducing the cost of governance, urging political office holders to eschew extravagance to demonstrate the gravity of the financial constraints faced by the government.

Addressing private sector employers, Akanbi encouraged them to adopt accommodating positions in the negotiations, emphasizing the importance of prioritizing the welfare of workers.

Akanbi underscored the need for all parties to approach the negotiations with realistic intentions, focusing on the well-being of workers. He expressed confidence that with such an approach, agreements could be swiftly reached, fostering an environment conducive to wealth creation and national prosperity.

He concluded by urging all stakeholders to prioritize the survival and prosperity of Nigeria, expressing hope for President Bola Tinubu’s success in building a secure and prosperous nation.