President Bola Tinubu is set to meet with the leadership of Organised Labour to continue discussions on a new minimum wage for Nigerian workers.
The Minister of Information and National Orientation, Mohammed Idris, announced that the new minimum wage was also addressed during the Federal Executive Council (FEC) meeting on Monday.
Idris mentioned that the President will meet with Labour leaders “to finalize their thoughts and then he will make his informed decision known to Nigerians by also sending it to the National Assembly.”
He added that the Minister of Budget and National Planning, Atiku Bagudu, has been instructed to prepare a proposal for an amendment to the 2024 Appropriation Act to be submitted to the National Assembly.
Last Thursday, the President met with the President of the Nigeria Labour Congress (NLC), Joe Ajaero, and the President of the Trade Union Congress (TUC), Festus Osifo, at the State House in Abuja.
After the meeting, the President emphasized the need for realistic expectations regarding the minimum wage, saying, “You have to cut your coat according to available cloth. Before we can finalize the minimum wage process, we have to look at the structure.”
The President is expected to decide on the ₦62,000 proposal from the government and private sector, as well as the ₦250,000 demand from Organised Labour. The current minimum wage is ₦30,000.
This meeting follows the President’s announcement in his Democracy Day speech on June 12, 2024, that an executive bill on the new national minimum wage would soon be sent to the National Assembly for passage.
On June 25, the Federal Executive Council (FEC), chaired by the President, postponed consideration of the new minimum wage memo to allow for more stakeholder engagement.
Two days later, Tinubu and Vice President Kassim Shettima, at the 141st meeting of the National Economic Council (NEC), met with governors of the 36 states and ministers to discuss the new minimum wage for workers.
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