PRESIDENT Bola Tinubu has instructed the Minister of Finance, Wale Edun, to develop a framework for a new minimum wage.
The Minister of Information and National Orientation, Mohammed Idris, made this announcement today in Abuja following a meeting between a Federal Government delegation and the President regarding the new minimum wage.
Idris stated, “The President has tasked the Minister of Finance to crunch the numbers and report back to him by tomorrow at the latest to prepare figures for discussions with Labor. Mr. President is committed to adhering to the recommendations of the committee and is focused on the well-being of Nigerians.”
The government, according to Idris, is supportive of labor and wage increments.
The Federal Government delegation includes Idris, Edun, Secretary to the Government of the Federation George Akume, Labor Minister Nkiruka Onyejeocha, Minister of Budget and Economic Planning Atiku Bagudu, Chief of Staff to the President Femi Gbajabiamila, and Group Chief Executive Officer of the Nigerian National Petroleum Corporation (NNPC) Limited Mele Kyari.
Earlier in the day, Organized Labor called off its nationwide strike that commenced at midnight yesterday.
Akume had previously stated yesterday night that the President was dedicated to a national minimum wage that is more than ₦60,000.
Akume explained, “The tripartite committee will meet daily for the next week to reach an acceptable national minimum wage agreement.”
He further noted that in respect of the President, the Organized Labor consented to promptly convene a meeting of its constituents to evaluate the President’s commitment.
The strike had impacted businesses, airports, universities, hospitals, and power supply.
Both the Nigeria Labor Congress (NLC) and the Trade Union Congress (TUC) argued that the current ₦30,000 minimum wage no longer meets the needs of the average Nigerian worker.
They expressed concern that not all governors have implemented the current wage level, which expired in April 2024, five years after the Minimum Wage Act of 2019 was signed by former President Muhammadu Buhari.
The Act stipulates a review every five years to align with the evolving economic circumstances faced by workers.
Labor had set a May 31 deadline for the new minimum wage, leading to the declaration of a nationwide strike which started yesterday, June 3, 2024, over the government committee’s failure to agree on a new minimum wage and the reversal of the electricity tariff hike.
Despite multiple government offers, including the latest of ₦60,000, Labor rejected these proposals. The TUC and NLC withdrew from negotiations, with the insistence on a ₦494,000 new minimum wage.
