Tinubu Sets Two-Day Deadline for Finance Minister’s Minimum Wage Plan

Olivia Pressman
2 Min Read

President Bola Tinubu has instructed the Minister of Finance, Wale Edun, to provide a detailed cost analysis for the proposed new minimum wage within two days.

Minister of Information and National Orientation, Mohammed Idris, announced this directive while briefing State House Correspondents following a meeting with the president and the negotiation team at Aso Rock on Tuesday.

Idris emphasized the collaborative effort required for the new minimum wage agreement, stating, “All parties to the negotiation of the new minimum wage will work together with the organized labor to present a new minimum wage for Nigerians within one week. We will all work assiduously to ensure that we have a new wage for Nigeria that is acceptable, sustainable, and realistic.”

The president’s directive mandates all negotiators, including representatives from the Federal Government and organized private sectors, to collaborate on creating a wage award that is both affordable and sustainable. Tinubu has expressed his commitment to accepting the tripartite committee’s resolutions on the new minimum wage.

READ ALSO: NLC and TUC Suspend Minimum Wage Strike for One Week

“We were all there to look at all issues, and the president 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 labor,” Idris said. “The president is determined to go with what the committee has recommended, and he is focused on the welfare of Nigerians. The government is not an opponent of labor discussions or wage increases.”

Secretary to the Government of the Federation, George Akume, convened an emergency meeting with labor leaders following a strike that disrupted economic activities on Monday. The meeting concluded with the Federal Government offering to pay a minimum wage higher than N60,000.

This swift response underscores the administration’s commitment to addressing labor concerns and ensuring fair compensation for Nigerian workers.

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