Tinubu Orders Immediate Cost Assessment of Minimum Wage Raise by Finance Ministry
By FCT – President Bola Tinubu has issued a directive to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, to prepare and present the cost implications of a new minimum wage by the end of the day. This urgent directive comes as the government seeks a sustainable and realistic figure to present as a new offer to organized labor.
President Tinubu emphasized that the government’s new offer must be ready today to serve as the basis for ongoing negotiations with labor unions. He also instructed all parties involved in the negotiation to expedite the process to reach a conclusion on the new minimum wage as soon as possible.
Previously, the Federal Government proposed minimum wages of N48,000, N57,000, and N60,000, which were rejected by labor unions, leading to an indefinite nationwide strike. This strike was suspended yesterday following a meeting summoned by President Tinubu with the Federal Government’s representatives in the tripartite committee on the new minimum wage.
Key Figures at the Presidential Meeting
The meeting with President Tinubu included several high-ranking officials:
- Wale Edun, Minister of Finance and Coordinating Minister of the Economy
- Atiku Bagudu, Minister of Budget and National Planning
- Nkeiruka Onyejeocha, Minister of State for Labour and Employment
- Mohammed Idris, Minister of Information and National Orientation
- Mele Kyari, GMD/CEO of the Nigeria National Petroleum Company Limited (NNPCL)
Government’s Determination and Next Steps
Following the meeting, Minister of Information and National Orientation Mohammed Idris conveyed the President’s commitment to resolving the contentious issues swiftly. He noted, “The President has directed the Minister of Finance to calculate the numbers and report back by today or tomorrow, so we can have concrete figures for negotiations with labor.”
Idris assured that President Tinubu is dedicated to balancing the welfare of Nigerians with economic realities, ensuring that any government promises made will be kept. He highlighted the importance of collaboration among all stakeholders, including the Organized Private Sector (OPS) and sub-national entities, to achieve an acceptable, sustainable, and realistic new minimum wage.
Labor’s Response and Suspension of Strike
Labor unions, represented by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), announced the suspension of their nationwide strike following positive indications from the government regarding the new minimum wage. The suspension is set for one week to allow the Federal Government to finalize and present a concrete minimum wage proposal.
In a joint communiqué, NLC President Joe Ajaero and TUC President Festus Osifo explained that the decision to suspend the strike was influenced by the government’s commitment to a higher national minimum wage and addressing critical issues such as the reversal of electricity tariff hikes and the abolition of discriminatory electricity consumer classifications.
Senate and ActionAid Reactions
The Senate has urged the Federal Government to expedite the new minimum wage negotiations to prevent further industrial unrest. Senate President Godswill Akpabio emphasized the importance of balancing labor demands with national economic stability.
ActionAid Nigeria also called on the government to resolve the labor dispute quickly to alleviate the economic hardship faced by Nigerians. The organization stressed the need for a balanced wage increase that considers the country’s economic conditions and promotes social protection programs.