Minimum Wage: Negotiations To End Today As Labour Awaits Tinubu’s Approval

The ongoing negotiations over Nigeria’s new minimum wage between the Federal Government and Organised Labour are set to conclude today.

This comes as the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), await President Bola Tinubu’s decision on their proposed N250,000 minimum wage.

Last week, the Tripartite Committee on National Minimum Wage, wrapped up its discussions, resulting in a split agreement: the Federal Government and the Organised Private Sector agreed on N62,000, while Labour insisted on N250,000. However, the Nigeria Governors Forum has stated that any wage above N60,000 is unsustainable.

“We have submitted the report to the president and are waiting for his decision. That is the most important thing,” said an NLC official, speaking anonymously. Labour leaders, including NLC President Joe Ajaero, are currently attending an International Labour Organisation (ILO) conference in Geneva, Switzerland.

The labour leaders plan to hold a National Executive Council meeting upon their return to Nigeria to decide on possible strike actions, depending on the president’s decision. “Before we can hold a NEC meeting, we must come back from Geneva first. We are being careful not to incite the citizens against the government, especially considering their control over the military,” the NLC official added.

READ ALSO: Will Minimum Wage Increase Do More Harm Than Good?

When asked about the Monday deadline, another source within the NLC confirmed, “We have sent our report to the committee and are awaiting the president’s response. The NEC meeting, regarding the ultimatum will be held once we return from Geneva.”

Organized Labour, comprising the NLC and TUC, had previously embarked on a two-day nationwide strike last week to demand a new minimum wage and the reversal of the recent electricity tariff hike. The strike was suspended for five days after a six-hour meeting with the National Assembly, during which the government committed to resuming negotiations and finalizing a new minimum wage within a week.

To expedite the talks, President Tinubu directed the Finance Minister, Wale Edun, to present the cost implications of a new minimum wage within two days. “The government representatives must work collectively with the organized private sector and the sub-nationals to achieve a new affordable wage for Nigerians,” Tinubu emphasised.

On Thursday, Finance Minister, Wale Edun, alongside the Minister of Budget and National Planning, Atiku Bagudu, presented the cost implications of implementing a new national minimum wage to President Tinubu at the Presidential Villa. The president is currently reviewing the proposal and is expected to make an official announcement soon.

The outcome of these negotiations is critical, as it will affect the livelihoods of millions of Nigerian workers. The decision made today will set the tone for the country’s economic and social stability in the coming months.