The Federal Government and Organized Labour adjourned minimum wage talks until Thursday (today), anticipating Finance Minister Wale Edun’s submission of a salary template to President Bola Tinubu.
On Tuesday, Tinubu directed the finance minister to present the cost implications for a new minimum wage within two days during a meeting with the government negotiation team led by the Secretary to the Government of the Federation, George Akume, at the presidential villa in Abuja.
Sources in the labour unions said they decided to await the presidential template before continuing negotiations. A meeting attendee stated, “The meeting has been adjourned until Thursday. We will meet at 2 p.m.”
A labour representative on the tripartite committee emphasized the template’s importance to the negotiation process, expressing confidence that talks would progress once the presidential template is presented.
Minister of Information and National Orientation Mohammed Idris confirmed that the President wanted to understand the financial implications of the new minimum wage within 48 hours. He assured that the president is determined to consider the committee’s resolutions, emphasizing the government’s commitment to balancing its promises with reality.
Idris also highlighted Tinubu’s directive for government representatives to collaborate with the organized private sector and sub-national entities to achieve a new, affordable wage for Nigerians. He assured that all parties would work together to present a new minimum wage within a week.
Despite the intervention of the National Assembly leadership, labour unions launched a nationwide strike on Monday and Tuesday, disrupting economic activities. Following a meeting with the SGF, National Assembly leaders, and National Security Adviser Nuhu Ribadu on Monday, the unions announced a five-day suspension of the strike after President Tinubu agreed to a national minimum wage higher than N60,000.
In an interview on Channels Television, Trade Union Congress President Festus Osifo indicated that unions are willing to compromise on their N494,000 demand, seeking a wage equivalent to the purchasing power of N30,000 in 2019 and N18,000 in 2014.
Airlines reported significant revenue losses during the two-day strike, with airports shut down and flights canceled. United Nigeria Airlines’ COO, Osita Okonkwo, and Ibom Air’s COO, George Uriesi, detailed the financial impact, while the Assistant General Secretary of the Aviation Round Table, Olumide Ohunayo, emphasized the broader industry impact.
John Ojikutu, CEO of Centurion Security Limited, pointed out the economic effects on the aviation sector, noting that the domestic airlines’ losses would eventually be mitigated as normal operations resume.
Debo Adeniran, Executive Director of the Centre for Anti-Corruption and Open Leadership, urged swift finalization of the negotiations, stressing the need for realistic discussions. Similarly, Auwal Rafsanjani, Executive Director of the Civil Society Legislative Advocacy Centre, called for honesty and realism from the government in the negotiations.
