President Bola Tinubu has instructed Finance Minister Wale Edun to outline the financial implications of a new minimum wage within two days.
This directive was issued during a meeting with the government’s negotiation team, headed by Secretary to the Government of the Federation, George Akume, at the presidential villa in Abuja.
Minister of Information and National Orientation, Mohammed Idris, revealed this to reporters following the closed-door meeting on Tuesday.
Idris noted that the President met with Federal Government representatives involved in minimum wage negotiations with labor unions. He stated, “The president convened a meeting with those negotiating for the federal government, including the finance minister, budget and national planning ministers, labor minister, and the NNPCL GMD, to address all issues. The finance minister has been directed to provide the numbers by tomorrow for further negotiations with labor.”
He assured that President Tinubu is committed to the committee’s recommendations and the welfare of Nigerians. “The government is not against wage increases; it seeks a balance between promises and practical realities,” Idris added.
President Tinubu has also tasked government representatives to collaborate with the organized private sector and sub-national entities to formulate a sustainable and realistic new wage award.
Idris explained, “The President has instructed federal negotiators and representatives of the private sector and sub-nationals to agree on an affordable, sustainable wage award.”
The minister confirmed that efforts would be intensified to finalize a new minimum wage within a week, ensuring it is acceptable and realistic.
The negotiation team includes ministers of finance, budget and national planning, labor, information, and the NNPC CEO.
Organized labor groups, the Nigeria Labour Congress and Trade Union Congress, suspended their five-day strike, which began on Monday to protest the delay in approving a new minimum wage by May 31. Following a six-hour meeting with labor leaders on Monday night, the Federal Government pledged President Bola Tinubu’s commitment to raising the minimum wage from N60,000.
