New minimum wage to be resolved next week — FG optimistic
The Federal Government is optimistic that the impasse over the new minimum wage will be resolved next week. This assurance came after a closed-door meeting between President Bola Tinubu and leaders of organised labour at the state house on Thursday.
The Ministers of Information and Labour provided this indication following the session, which lasted about an hour and is scheduled to reconvene next week.
The meeting focused on further engagement with stakeholders before making a final decision on the minimum wage issue.
According to a statement by the Special Adviser on Media to the President, Ajuri Ngelale, President Tinubu expressed his concern for the welfare of Nigerian workers but emphasized the need for realistic expectations.
He stated, “I pay attention to everything around me. A happy worker is a productive worker. And society depends on the productivity of the happy worker.”
READ ALSO: Labour demands N250,000 minimum wage after meeting Tinubu
The President also questioned the current wage adjustment structure, suggesting, “You have to cut your coat according to available cloth. Before we can finalise the minimum wage process, we have to look at the structure. Why must we adjust wages every five years? Why not two? Why not three years? What is a problem today, can be eased up tomorrow.
We can take a surgical approach that is based on pragmatism and a deep understanding of all factors.”
Organised labour, consisting of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), maintained their demands for a ₦250,000 minimum wage, while the tripartite committee proposed ₦62,000. NLC President Joe Ajaero and TUC President Festus Osifo reiterated these figures during the meeting, which they described as a discussion rather than a negotiation.
“In the real sense, it wasn’t a negotiation but a discussion, and we have had that discussion. We agreed to look at the real terms probably and reconvene next week. So, that’s where we are because we didn’t go down there to talk naira and kobo,” Ajaero said.
“At least there were some basic issues that we agreed on. The status quo in terms of the amount ₦250,000 and ₦62,000 remains until we finish this conversation.”
The TUC boss highlighted the economic difficulties faced by Nigerians, stating, “In the meeting, we tried to put the issues on the table, issues that are bothering and biting Nigerians today.
READ ALSO: Wage raise and tradeoff between macroeconomic variables, by Uji A. Iliyasu
The economic difficulties and the value of the naira, how it has also eroded, and how these have affected the prices of commodities and goods in the market.”
He continued, “We have had all the conversations with all his agents, but today we said let us meet with the father of the country and have this conversation and make the argument that labour always makes. We made all the arguments, the economic analysis, macro, micro, fiscal, and monetary issues.”
At the end of the meeting, it was agreed that further discussions would be internalised, and the parties would reconvene in a week’s time to continue the dialogue.
Proofreading, editing by Sakinat Musa Abubakar and Maryam Sulaiman, Editor and Journalist at Neptune Prime.
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