President Tinubu Advances Talks on New Minimum Wage with Labour Leaders
The ongoing discussions regarding a new minimum wage in Nigeria are set to continue as President Bola Tinubu prepares for another meeting with labour leaders this Thursday. This follows a recent meeting with the Association of Local Government of Nigeria, who have called for a new revenue formula favoring the 774 local government areas in the country.
During the 15th Federal Executive Council meeting in Abuja, the Minister of Information and National Orientation, Mohammed Idris, confirmed that President Tinubu would engage in further consultations with stakeholders to reach a consensus on the new minimum wage. The Tripartite Committee on the New National Minimum Wage had previously submitted conflicting figures, with the government proposing N62,000 and Organized Labour demanding N250,000.
Despite the discrepancies, the government remains committed to finding a minimum wage that benefits all parties involved – the Federal Government, sub-nationals, and the organized private sector. The upcoming meeting aims to finalize the minimum wage agreement before transmitting the executive bill to the National Assembly for legislative backing.
Amid these discussions, the Association of Local Government of Nigeria has also requested increased monthly allocations to ensure the 774 LGAs can comply with the new minimum wage once it is enacted into law. This further demonstrates the multifaceted approach needed to address wage issues and ensure financial viability at all levels of governance.