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Minimum Wage: Anxiety As Tinubu Sets Final Meeting With Labour Leaders

Published

5 months ago

July 15, 2024

There is anxiety on all sides ahead of a new meeting between President Bola Tinubu and leaders of organised labour ahead of the submission of the new National Minimum Wage to the National Assembly.

President Bola Tinubu has set a meeting with leaders of organized labour on Thursday to finalize the highly anticipated New National Minimum Wage bill, which is expected to be transmitted to the National Assembly next week, barring any last-minute changes.

Minister of Information and National Orientation, Mohammed Idris, announced that President Tinubu would convene the meeting with labour leaders on Thursday to reach a final decision on the new minimum wage. This announcement came after Monday’s Federal Executive Council (FEC) meeting, chaired by President Tinubu.

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During the FEC meeting, discussions focused on the national minimum wage, and it was decided that a meeting with organized labour leaders would be held later this week. Last week. The meeting follows an earlier meeting between President Tinubu the organised labour a week ago.

The Tripartite Committee, responsible for determining the new wage, had submitted two separate figures: N62,000 from the government and private sector, and N250,000 from organized labour. Due to the significant disparity between these figures, President Tinubu promised to engage with stakeholders to resolve the discrepancy before sending the executive bill to the National Assembly.

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Minister Idris confirmed that the President would transmit the bill following Thursday’s meeting with labour leaders. Additionally, an amendment to the 2024 budget will be submitted, incorporating the new minimum wage and other essential matters.

The upcoming meeting with labour leaders and subsequent transmission of the bill by President Tinubu to the National Assembly will mark significant steps towards establishing a new national minimum wage in Nigeria.
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