A new update has emerged on the minimum wage announcement scheduled for today in the FEC meeting.
NaijaOnPoint Nigeria reports that the Federal Executive Council (FEC) has stepped down the memo on the new minimum wage stating that President Bola Tinubu will engage in additional consultations before making a final decision on the new national minimum wage, the Federal Government has announced.
This Nigeria news platform understands that the Minister of Information, Mohammed Idris disclosed this to State House correspondents on Tuesday after the Federal Executive Council meeting presided over by President Tinubu at the Presidential Villa.
Idris revealed that while a report from the tripartite committee had been submitted to the President, the complexity of the issue necessitates further discussions.
“The President has studied the report submitted by the tripartite committee,” Idris stated. “However, given that the new minimum wage doesn’t only involve the Federal Government, but also impacts states and the organised private sector, President Tinubu has decided to consult further to make a more informed decision.”
The minister explained that the FEC had deliberated on the matter but ultimately decided to step down an immediate decision.
This move, he noted, is aimed at ensuring that all stakeholders, including state governments and private sector representatives have an opportunity to make input.