Tinubu To Meet Labour Leaders On New Minimum Wage Today

President Bola Tinubu is set to meet with the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) in Abuja on Thursday to discuss a new minimum wage for Nigerian workers. The meeting is to be held at the Aso Villa and it has come as part of ongoing efforts to address the economic challenges faced by workers due to inflation and recent government policies.....Read The Full Story Here ▶

The government has proposed a new minimum wage of ₦62,000, while the Organized Labour is insisting on ₦250,000. This meeting follows President Tinubu’s Democracy Day speech on June 12, 2024, where he announced plans to send an executive bill on the new minimum wage to the National Assembly.

On June 25, the Federal Executive Council (FEC) deferred deliberations on the new minimum wage to allow for further engagement with stakeholders.

Subsequently, President Tinubu and Vice President Kassim Shettima discussed the issue with state governors and ministers during the 141st National Economic Council (NEC) meeting, although the outcome of these discussions remains undisclosed.

The journey to a new minimum wage has been long and fraught with challenges. The current Minimum Wage Act, which set the minimum wage at ₦30,000, expired in April 2024.

President Tinubu had established a Tripartite Committee in January to negotiate a new wage. This committee, including representatives from Organized Labour, federal and state governments, and the private sector, has struggled to reach an agreement.

In June, frustrated by the lack of progress, labour unions declared an indefinite strike, paralyzing key sectors such as airports, hospitals, banks, and the national grid. The strike was suspended after government assurances of a wage increase above ₦60,000.

Despite the government’s revised offer of ₦62,000, labour unions have maintained their demand for ₦250,000, arguing that the current minimum wage is insufficient given the rising cost of living. The unions cite food inflation and the impacts of petrol subsidy removals as reasons for the continuous hardship that Nigerian workers are experiencing.

As President Tinubu prepares to meet with labour leaders, the nation watches closely, hoping for a resolution that balances economic realities with the need to improve workers’ living conditions.

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