The ₦62,000 government and private sector proposal and the ₦250,000 organized labour demand are expected to be decided upon by the President.
Organized labour has received assurances from President Bola Tinubu that the National Assembly will soon consider an executive measure establishing a new national minimum wage for workers.
On June 12, 2024, Tinubu announced this in his second Democracy Day speech on Wednesday.
In keeping with this, we have been transparent and sincere in our negotiations with Organized Labour over a new national minimum wage. The President declared, “We will shortly submit an executive measure to the National Assembly to codify the agreements reached into law for the next five years or fewer.
He claimed that none of the leaders of the Trade Union Congress (TUC) and the Nigeria Labour Congress (NLC) were detained or intimidated during the labour movement’s nationwide strike on June 3, 2024.
“Rather than opposing, the labour leadership was asked to engage in a constructive dialogue and work toward a mutually agreeable solution,” he stated, emphasizing that “rational discourse and ethical concession are characteristics of democracy.”
‘Reforms Will Fix Hardship’
Tinubu also expressed sympathy for Nigerians and acknowledged the country’s economic challenges. “Necessary repairs required to fix the economy,” he pledged.
“The goal of the reforms we have started is to build a better, stronger base for future expansion. Without question, the reforms have brought forth difficulties. But in the long run, these fixes are essential to stabilize the economy and ensure that everyone has access to opportunities for employment, just remuneration for their labour, and fair pay for their efforts,” he stated.
Long Journey to New Wage
There have long been discussions about raising the minimum wage for Nigerian employees. In April 2024, the Minimum Pay Act of 2019, which set the minimum pay at ₦30,000, came to an end. Every five years, the Act should be reviewed to ensure it still meets the needs of modern workers in terms of the economy.
