In a recent interview with Ikorodu News Network (INN), Mr. Fola Tinubu, the Managing Director of Primero Transport Services Limited, disclosed that his company has swiftly adjusted staff wages in response to the federal government’s recent increase in the national minimum wage.
President Bola Tinubu, on July 18th, 2024, in Abuja, increased the federal government’s offer on the national minimum wage from N62,000 to N70,000.
He also assured that the wage would be reviewed after three years instead of the previously proposed five years.
Known as a prominent figure in Lagos State’s transportation sector, Mr. Fola Tinubu revealed that the wage hike is intended to ensure that the company’s employees are fairly compensated according to the new regulations.
Mr. Tinubu explained that the wage increase was a proactive measure to align with the new minimum wage law and to prevent any negative impact on the staff.
He affirmed the company’s dedication to fair pay and employee satisfaction amid changing economic conditions.
“The wage adjustment was crucial to meet the new minimum wage standards and support our staff during this period,” Mr. Tinubu stated.
“Our commitment to fair compensation reflects our broader goal of valuing and supporting our employees.”
In addition to discussing the wage increase, Mr. Tinubu addressed several other pressing issues.
He spoke on the economic challenges posed by the rising value of the US Dollar against the Nigerian Naira and how it affects the transport sector.
He also highlighted the need for enhanced collaboration between Primero Transport Services Limited and both state and federal governments to improve Nigeria’s transportation infrastructure.
Furthermore, Mr. Tinubu touched on the recent national protests, noting their impact on the industry and the broader societal context.
The exclusive session with Mr. Fola Tinubu will be published on the INN-HOUSE YouTube channel.
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