The Finance Minister, Wale Edun, will present a new minimum wage proposal to President Bola Tinubu today, Wednesday, June 5, 2024.
The Minister of Information, Idris Mohammed, made this announcement during an interview with newsmen on Tuesday at the State House in Abuja, following the five-day suspension of the indefinite strike by organized labour.
He said: “The president has directed the Minister of Finance to do the calculations and report back to him between today (Tuesday) and tomorrow (Wednesday). This will allow us to have some figures ready for negotiations.
“Let me say that Mr. President is determined to follow the committee’s recommendations. He is also focused on the welfare of Nigerians. As I mentioned earlier, the government is not opposed to discussions with labour.
“We are not against wage increases. But what is important is that we ensure a balance between the government’s announcements and what is actually available.”
The labour unions, including the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), began their strike on Monday, disrupting economic activities in the country, after failing to reach an agreement with the government on the minimum wage.
The government had insisted on a N60,000 minimum wage, while the labour unions initially demanded N615,000, later compromising at N419,000. After discussions with the NLC and TUC leadership, the federal government agreed to a figure above N60,000, leading to a temporary suspension of the strike.
The Tripartite Committee, consisting of the government, labour unions, and the organized private sector, will meet daily for the next week to negotiate a suitable National Minimum Wage.
Mohammed assured that President Tinubu is dedicated to ensuring a balance between the government’s commitments and practical realities, keeping the welfare of Nigerians in mind.
