President Bola Tinubu has instructed the Minister of Finance, Wale Edun, to present the cost implications for a new minimum wage within two days.
This directive was given during a meeting with the government negotiation team, led by the Secretary to the Government of the Federation, George Akume, at the presidential villa in Abuja.
Minister of Information and National Orientation, Mohammed Idris, disclosed this information in an interview after the closed-door meeting on Tuesday.
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Idris mentioned that the President convened the meeting to discuss the federal government’s stance on the minimum wage negotiations with labour representatives.
“The President has just summoned a meeting of all those who negotiated on behalf of the federal government,” Idris stated. “He has directed the minister of finance to do the numbers and get back to him between today and tomorrow so that we can have figures ready for negotiation with labour.”
Idris assured that President Tinubu is committed to the committee’s resolutions and the welfare of Nigerians. He emphasized that the government is not against wage increases but aims to balance promises with the realities on the ground.
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Furthermore, Tinubu has directed government representatives to collaborate with the organised private sector and sub-nationals to establish a new, sustainable, and realistic wage award for Nigerians.
“The President has given a matching order for all representatives of the federal government, organised private sectors, and sub-nationals to come together to achieve a new wage award that is affordable and realistic for Nigerians,” Idris explained.
The minister assured that the team would work diligently to present a new minimum wage within one week. The negotiation team includes the Ministers of Finance, Budget and National Planning, Labour, Information, and the Group Managing Director of the Nigeria National Petroleum Company Limited.
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This development follows the suspension of a nationwide strike by organised labour, comprising the Nigeria Labour Congress and Trade Union Congress, for five days. The strike, which began on Monday, was in protest of the Federal Government’s failure to approve a new minimum wage by May 31.
After a six-hour meeting on Monday night, the government expressed President Tinubu’s commitment to increasing the proposed N60,000 minimum wage.