Tinubu Orders Finance Minister to Unveil New Minimum Wage Blueprint in 48 hours

Wale Edun, the minister of finance, has been instructed by President Bola Tinubu to submit a blueprint for a new minimum wage.

Mohammed Idris, Minister of Information and National Orientation, made this statement in Abuja on Tuesday following a meeting between the President and a delegation from the Federal Government discussing the new minimum wage.

"The Minister of Finance has been instructed by the President to perform the calculations and report back to him by tomorrow so that we may have some numbers prepared for talks with Labour.



"Mr. President is committed to following the committee's recommendations. He added, "He is also considering the wellbeing of Nigerians.

According to Idris, the government does not oppose labor or salary increases.

Idris, Edun, George Akume, Secretary to the Government of the Federation, Nkiruka Onyejeocha, Minister of Labor, Atiku Bagudu, Chief of Staff to the President Femi Gbajabiamila, and Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited are among the members of the FG delegation.

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The nationwide strike by Organized Labor, which began at midnight on Monday, was put on hold earlier on Tuesday. Akume stated on Monday evening that the President was dedicated to having a minimum salary in the country that is greater than ₦60,000.

  

Akume had stated, "The tripartite committee is to meet every day for the next one week to arrive at an agreeable national minimum wage." He also mentioned that, out of respect for the President's high regard, Organized Labor had decided to call an urgent meeting of its organs to discuss the President's commitment.

Due to Labour's demand for a higher minimum wage, businesses, airports, universities, hospitals, and the electricity supply were all impacted on Monday as the Labour Party went on an indefinite strike. 

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) expressed dissatisfaction over the current minimum wage of ₦30,000, claiming it is insufficient to support the average worker in Nigeria. They also bemoaned the fact that some governors are not paying the current wage award, which ran out in April 2024, five years after former President Muhammadu Buhari signed the Minimum Wage Act of 2019. Every five years, the Act should be reviewed to ensure that it still meets the needs of workers in the modern economy.

Afterward, labor gave the federal government until May 31 to set the new minimum wage.

The nation's labor organizations announced on May 31 that a nationwide walkout will start on Monday, June 3, 2024, in protest of the government committee's inability to reach a consensus on a new minimum wage and the cancellation of the increase in electricity rates.

Labour turned down three proposals from the government during the fruitless negotiations, the most recent being N60,000. After that, the TUC and the NLC withdrew from the talks and insisted on ₦494,000 as the new minimum wage.

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