In order to continue the conversation over a new minimum wage for Nigerian workers, President Bola Tinubu is scheduled to meet with the leadership of Organised Labour.
The Federal Executive Council (FEC) meeting on Monday included a discussion of the new minimum wage, according to Mohammed Idris, Minister of Information and National Orientation.
In order to “finalise their thoughts and then he will make his informed decision known to Nigerians by also sending it to the National Assembly,” Idris stated that the President will meet with the leaders of Labour.
He stated that Atiku Bagudu, the Minister of Budget and National Planning, has been instructed to draft an Amendment Act proposal for the 2024 Appropriations Act, which would be submitted to the National Assembly.
Last Thursday, the President met with the President of the Nigeria Labour Congress (NLC), Joe Ajaero; and his counterpart at the Trade Union Congress (TUC), Festus Osifo, at the State House in Abuja.
At the end of the meeting, the President called for realistic expectations as regards minimum wage. “You have to cut your coat according to available cloth. Before we can finalise the minimum wage process, we have to look at the structure,” he said.
The President is expected to make a decision on the ₦62,000 proposal of the government and private sector side; as well as the ₦250,000 demand of the Organised Labour. The current minimum wage is ₦30,000.
The meeting is coming about a month after the President said in his Democracy Day speech on June 12, 2024, that an executive bill on the new national minimum wage for workers would soon be sent to the National Assembly for passage.
On June 25, the Federal Executive Council (FEC) chaired by the President stepped down from consideration and deliberation on the memo on the new minimum wage to allow for more engagement with stakeholders.
Two days after, Tinubu and Vice President Kassim Shettima, at the 141st meeting of the National Economic Council (NEC), met with governors of the 36 states of the Federation and ministers to deliberate on a new minimum wage for workers.