President Bola Tinubu and leaders of Nigeria’s organized labour have postponed discussions on the new national minimum wage until next week to allow for broader consultations. The meeting, held at the Presidential Villa on Thursday, included leaders from the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).
The Tripartite Committee recently proposed two figures for the new minimum wage: N62,000 from the government and private sector, and N250,000 from organized labour. Due to disagreements, the President delayed sending any proposal to the National Assembly, opting to consult with stakeholders first.
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NLC President Joe Ajaero clarified that the meeting was a discussion rather than a negotiation, focusing on the country’s current economic realities. He mentioned that no specific figures were discussed, and both parties agreed to reconvene in a week.
TUC President Festus Osifo emphasized that they presented all relevant economic indices to President Tinubu, highlighting the impact of inflation and the declining value of the naira on Nigerians. Osifo stated that they had detailed discussions on the macroeconomic issues affecting workers and agreed to continue talks next week.
The Minister of State for Labour and Employment, Nkeiruka Onyejeocha, described the meeting as “fruitful,” indicating optimism for a resolution soon. Minister of Information Mohammed Idris echoed this sentiment, expressing hope for a positive outcome in the next meeting.
Sources revealed that President Tinubu urged the organized labour to consider the N62,000 offer, suggesting more frequent wage reviews, potentially every two years instead of five. He stressed the need for realistic expectations given the country’s economic constraints.
The NLC and TUC Presidents commended the President for the Supreme Court’s recent judgment affirming local government financial autonomy. They expressed hope that ongoing economic measures, such as the introduction of Compressed Natural Gas-powered buses and suspension of duty on certain food imports, would help alleviate the economic burden on Nigerians.
