PRESIDENT Bola Tinubu is set to convene with the leadership of Organised Labour to continue discussions regarding a new minimum wage for Nigerian workers.
According to the Minister of Information and National Orientation, Mohammed Idris, the subject of the new minimum wage was also a focal point during the Federal Executive Council (FEC) meeting yesterday.
Idris mentioned that the President will discuss with Labour leaders to finalize their decision, following which he will disclose his informed decision to the Nigerian population, by forwarding it to the National Assembly for consideration.
The Minister of Budget and National Planning, Atiku Bagudu, directed by the President, will come up with a proposal for an Amendment Act to the 2024 Appropriation Act to be sent to the National Assembly.
Recall that on Thursday, the President engaged with Joe Ajaero, President of the Nigeria Labour Congress (NLC), and Festus Osifo, head of the Trade Union Congress (TUC), at the State House in Abuja.
The President stressed the importance of having practical expectations regarding the minimum wage, emphasizing the need to align expectations with available resources.
He also highlighted the necessity of reviewing the existing structure before finalizing the minimum wage process.
The President is expected to reach a decision on the government and private sector’s ₦62,000 proposal, as well as the Organised Labour’s demand of ₦250,000, with the current minimum wage standing at ₦30,000.
The discussions on minimum wage have been going on for over a month since the President’s statement in his Democracy Day speech on June 12, 2024, promising the swift submission of an executive bill on the new national minimum wage to the National Assembly for deliberation and passage.
On June 25, the Federal Executive Council (FEC) chaired by the President stepped down from consideration and deliberation on the memo on the new minimum wage to allow for more engagement with stakeholders.
Two days after, Tinubu and Vice President Kassim Shettima, at the 141st meeting of the National Economic Council (NEC), met with governors of the 36 states of the Federation and ministers to deliberate on a new minimum wage for workers.