President Bola Tinubu has called for a crucial meeting with the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) in Abuja on Thursday to discuss the proposed new minimum wage for Nigerian workers.
A reliable source within the labour movement confirmed to Channels Television that the meeting, scheduled to take place at the Aso Villa, aims to resolve the impasse between the government and organised labour regarding the wage increase.
The discussions will center around the government’s offer of ₦62,000 and labour’s demand for ₦250,000 as the new minimum wage. This meeting comes in the wake of ongoing negotiations following the expiration of the Minimum Wage Act of 2019, which set the minimum wage at ₦30,000 and lapsed in April 2024.
President Tinubu, earlier in his Democracy Day speech on June 12, 2024, had announced plans to send an executive bill to the National Assembly for the enactment of a new minimum wage law. However, deliberations were temporarily halted to allow for further consultations with stakeholders after the Federal Executive Council (FEC) meeting on June 25.
The Tripartite Committee set up by President Tinubu in January to negotiate the new wage failed to reach consensus, leading to an indefinite industrial action by labour on June 3, 2024. The strike disrupted various sectors including airports, hospitals, banks, and legislative complexes nationwide.
Labour cited economic realities exacerbated by inflation and government policies such as petrol subsidy removal and forex unification as reasons necessitating a significant wage increase.
Following assurances from the President that the government was committed to a wage above ₦60,000, labour temporarily suspended its strike on June 4, 2024. Subsequent talks have seen the government revise its offer to ₦62,000, while labour reduced its demand from ₦250,000 to facilitate further negotiations.
Both parties have submitted their reports to President Tinubu, who is expected to make a final decision and present an executive bill to the National Assembly for approval, paving the way for the implementation of a new minimum wage law in Nigeria.
