President Bola Tinubu is scheduled to meet with Organised Labour representatives in Abuja on Thursday to further discussions regarding a new minimum wage for Nigerian workers.
According to Channels Television, a senior labour official stated that the President has invited leaders from the Nigeria Labour Congress and Trade Union Congress to a meeting at Aso Villa in Abuja.
The President is anticipated to make a decision on the ₦62,000 proposal put forth by the government and private sector, alongside the ₦250,000 demand from Organised Labour.
This upcoming meeting follows Tinubu’s announcement in his June 12, 2024, Democracy Day speech, where he mentioned that an executive bill on the new national minimum wage would soon be presented to the National Assembly.
On June 25, the Federal Executive Council led by the President, postponed consideration of the new minimum wage memo to allow for further stakeholder engagement.
Two days later, at the 141st National Economic Council meeting, Tinubu and Vice President Kassim Shettima convened with state governors and ministers to discuss the new minimum wage.
Discussions for revising the minimum wage have been ongoing. The Minimum Wage Act of 2019, which set the wage at ₦30,000, expired in April 2024 and is due for a five-year review to reflect current economic conditions.
In January, President Tinubu established a Tripartite Committee to negotiate a new minimum wage. This committee includes members from Organised Labour, federal and state government representatives, and the Organised Private Sector.
However, the committee could not reach a consensus, leading labour to initiate an indefinite strike on June 3, 2024.
This strike caused significant disruptions, shutting down airports, hospitals, the national grid, banks, and legislative complexes.
The labour unions argued that the ₦30,000 minimum wage no longer suffices for an average Nigerian worker’s well-being.
They urged the government to propose a wage that aligns with current inflationary pressures and the economic impacts of recent policies, including petrol subsidy removal and forex unification.
Labour paused the strike on June 4, 2024, after the President assured them of a wage exceeding ₦60,000.
Subsequent negotiations resumed between the TUC, NLC, and federal, state, and private sector representatives.
Despite continued discussions, no agreement was reached by June 7, 2024. Labour reduced its demand from ₦494,000 to ₦250,000, while the government raised its offer from ₦60,000 to ₦62,000.
Both parties submitted their positions to the President, who is expected to make a final decision and forward an executive bill to the National Assembly for the new minimum wage to be enacted into law.
