ABUJA, June 2 (Xinhua) -- Nigerian President Bola Tinubu on Friday pledged to improve the livelihood of Nigerians with more people-focused economic policies.

Speaking at a meeting with governors from the ruling All Progressives Congress (APC) in the Nigerian capital of Abuja, Tinubu also assured an upward review of the national minimum wage.

The president said the national and sub-national governments will work together on the minimum wage, which, according to him, already requires "soul searching."

"We need to do some arithmetic and soul-searching on the minimum wage. We will have to take a look at that together, and the revenue. We must strengthen the source and application of our revenue," he said.

Urging the governors to work hard to make a difference in the lives of people in their respective states, Tinubu, who took office earlier this week as Nigeria's 16th president, said he was prepared to work for the benefit of all Nigerians and operate an open-door policy.

He added that the multiple exchange rates in the country will be streamlined, to enable a viable economy.