Finance Minister Set to Present New Minimum Wage Template to President Tinubu Today

Barring any unforeseen circumstances, the Finance Minister, Wale Edun, will present a new minimum wage template to President Bola Tinubu today, Wednesday, June 5, 2024.

The Minister of Information, Idris Mohammed made the disclosure during an interview with newsmen on Tuesday at the State House in Abuja, following the suspension of the indefinite strike by the organized labour for five days.

He said: “The president has directed the Minister of Finance to do the number and get back to him between today (Tuesday) and tomorrow (Wednesday). So that we can have some figures ready for negotiations. 

“Let me say that Mr. President is determined to go with what the committee has said. He is also looking at the welfare of Nigerians. As I said earlier, the government is not an opponent of labour discussion. 

“We are not an opponent of wage increase. But What is there is that we are always desirous in ensuring that there is a balance between what government pronouncement is, and what is readily available on ground.”

The labour unions, comprising the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), had embarked on the strike on Monday, shutting down economic activities in the country, after negotiations with the government over the minimum wage reached an impasse.

The government had insisted on paying N60,000, while the labour unions proposed N615,000, later settling for N419,000. However, after meeting with the leadership of the NLC and TUC, the federal government agreed to pay above N60,000 minimum wage, leading to a temporary suspension of the strike.

The Tripartite Committee, comprising the government, labour unions, and the organized private sector, agreed to meet daily for the next week to negotiate an agreeable National Minimum Wage.

Mohammed assured that President Tinubu is committed to ensuring a balance between the government’s pronouncement and what is readily available on the ground, considering the welfare of Nigerians.

The article was originally published on Politics Nigeria.

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