The Minister of Information, Idris Mohammed, announced that Finance Minister Wale Edun will present a new minimum wage proposal to President Bola Tinubu today, Wednesday, June 5, 2024.
Mohammed made this statement during an interview with journalists at the State House in Abuja on Tuesday.
This announcement follows the organized labour’s decision to suspend their strike for five days after reaching an agreement with the federal government to set a minimum wage above N60,000 for workers.
Discussing the ongoing efforts, Mohammed stated that the government is developing a new wage template to be submitted to the Tripartite Committee. “The government has summoned a meeting with all those who negotiated on behalf of the federal government, led by the Secretary to the Government of the Federation . The Finance Minister, the Minister of Budget and Economic Planning, myself, and others were all present to review these issues,” Mohammed explained.
He further noted, “The president has directed the Finance Minister to finalize the calculations and report back to him between today (Tuesday) and tomorrow (Wednesday) so that we can have some figures ready for negotiations. Mr. President is committed to implementing the committee’s recommendations while also considering the welfare of Nigerians. The government is not opposed to labour discussions or wage increases. However, we must ensure a balance between government pronouncements and available resources.”
The National Labour Congress and the Trade Union Congress had declared an indefinite strike on Monday, effectively halting economic activities nationwide. The strike was initiated after negotiations over the workers’ minimum wage reached an impasse.
Initially, the NLC and TUC proposed a new wage of N615,000 to the federal government. After extensive negotiations, the unions settled on N419,000. The government, however, insisted on a minimum wage of N60,000, citing the higher figure as unsustainable.
Following a meeting with NLC and TUC leaders, the federal government signed a resolution agreeing to a minimum wage above N60,000. This agreement led to a temporary suspension of the industrial action, with the unions giving the government one week to review and propose a higher minimum wage.
The Tripartite Committee has resolved to meet daily for the next week to finalize an agreeable National Minimum Wage. Consequently, government and private offices are expected to resume normal operations.
In an interview on Tuesday, the president of the TUC stated that the unions would not accept a minimal increase from the initial N60,000 proposal, emphasizing that the new minimum wage must be significantly higher.
