The Federal Executive Council (FEC) has delayed the memo on the new minimum wage. The decision was announced by the Minister of Information, Alhaja Mohammed Idris who noted that President Bola Tinubu will engage in discussions with State governors and the private sector. The aim was to ensure thorough consultation with stakeholders before finalizing the minimum wage amount.
Idris, had told the State House Correspondents that 39 items were on the agenda and all were taken.
As regards the Minimum wage, Idris said the Tripartite committee (including the local government, States, NLC/ TUC and the federal government) submitted its report and there was a memo to that effect.
He, however, remarked that the Council could not take a decision on it because it involved Local Government, states, FG, Organized Private Sector and Labour unions, —aka the Tripartite Committee therefore the new minimum wage memo was stepped down so that President Bola Tinubu could make consultations widely before a final submission was made to the National Assembly.
Why It Matters
The argument and clamour for a new minimum wage for Nigerian workers has been going on for a while since it expired in April 2024.
According to law, the Minimum Wage Act should be reviewed every five years to be able to meet up with modern economic demands of workers.
In January 2024 President Bola Tinubu set up a Tripartite Committee to discuss a new minimum wage for workers but they failed to reach an agreement on a new realistic minimum wage for workers, forcing labour to declare an indefinite industrial action on Monday, June 3, 2024, shutting down airports, hospitals, national grid, banks, National Assembly and state assemblies’ complexes.
As it stands, the President is expected to make a decision on the ₦62,000 proposal of the government and private sector side; and the ₦250,000 demand of the Organised Labour.