President Bola Tinubu is set to meet with leaders of Organized Labour to finalize discussions on a new minimum wage for Nigerian workers. The current proposal sees the government and private sector suggesting ₦62,000, while Organized Labour demands ₦250,000.
The Minister of Information and National Orientation, Mohammed Idris, noted that the new minimum wage was a key topic during Monday’s Federal Executive Council (FEC) meeting. Idris said, “The President will meet with Labour leaders to finalize their thoughts, and he will make his informed decision known to Nigerians by also sending it to the National Assembly.”
Last Thursday, Tinubu met with Nigeria Labour Congress (NLC) President Joe Ajaero and Trade Union Congress (TUC) President Festus Osifo, where he emphasized the need for realistic expectations regarding the minimum wage. “You have to cut your coat according to the available cloth. We must look at the structure before finalizing the minimum wage process,” Tinubu said.
This meeting follows Tinubu’s Democracy Day speech on June 12, 2024, where he announced an upcoming executive bill on the new national minimum wage. The FEC, chaired by Tinubu, deferred a decision on the new minimum wage on June 25, opting for more stakeholder engagement.
This was followed by discussions with state governors and ministers during the National Economic Council (NEC) meeting. The Tripartite Committee on the New National Minimum Wage presented two figures: ₦62,000 from the government and private sector, and ₦250,000 from Organized Labour.
Tinubu requested additional time to harmonize these figures before sending an executive bill to the National Assembly.
Meanwhile, the National President of the Association of Local Government of Nigeria (ALGON), Aminu Mu’azu-Maifata, called for an increase in monthly allocations to the 774 local government areas to ensure they can meet the new wage demands. Mu’azu-Maifata emphasized the need for a revised revenue-sharing formula to support local governments.
The final decision on the new minimum wage will be transmitted to the National Assembly after Thursday’s meeting, with the government planning an amendment to the 2024 budget to accommodate the new wage.
