President Bola Tinubu has tasked Finance Minister Wale Edun with the responsibility of determining the financial implications of the proposed new minimum wage within a 48-hour timeframe.
This directive was made public by Mohammed Idris, the Minister of Information and National Orientation, during a press briefing at Aso Rock on Tuesday following a negotiation meeting with the president.
Idris emphasized that all stakeholders involved in the new minimum wage negotiations, including representatives of the federal government, organized private sectors, and sub-nationals, are expected to collaborate effectively to establish a new wage structure for Nigerians that is affordable, sustainable, and realistic. This collaborative effort is expected to yield results within a week.
The Information Minister further disclosed that President Tinubu is fully committed to accepting the recommendations of the tripartite committee on the new minimum wage. He added that the president has instructed the finance minister to calculate the cost implications and present the figures for negotiation with labour between today and tomorrow.
Idris reassured that the government is not opposed to labour discussions or wage increases, and the president is keen on ensuring the welfare of Nigerians. He reiterated that the president has directed the committee to work together to provide Nigerians with an “affordable, sustainable, and realistic” minimum wage within the next week.
In response to the strike that paralyzed economic activities on Monday, George Akume, the Secretary to the Government of the Federation, had called labour leaders to an emergency meeting. It was announced at the conclusion of this meeting that the Federal Government had proposed to pay a minimum wage higher than N60,000.
