President Bola Tinubu has instructed the Minister of Finance, Wale Edun, to provide a detailed analysis of the cost implications of the new minimum wage within the next two days.
This directive was made known by the Minister of Information and National Orientation, Mohammed Idris, while addressing State House Correspondents after a meeting of the negotiation team with the president at Aso Rock on Tuesday.
During the briefing, Idris stated, “All parties involved in the negotiation of the new minimum wage will collaborate with the organized labor to present a new minimum wage for Nigerians within one week.
All of us will work diligently within the next week to ensure that we establish a new wage for Nigeria that is acceptable, sustainable, and realistic.”
Idris further disclosed that the President has tasked all the representatives of the Federal government, organized private sectors, and sub-nationals who have been involved in the negotiations to come together and agree on a new wage award that is affordable, sustainable, and realistic for Nigerians.
Tinubu is reportedly committed to accepting the resolutions of the tripartite committee on the new minimum wage.
Idris emphasized, “The president has directed the minister of finance to crunch the numbers and report back to him within the next 48 hours, so that we can have figures ready for negotiation with labor.
The president is determined to pursue the committee’s recommendations and is also prioritizing the welfare of Nigerians. The government is not opposed to discussions or wage increases with labor.”
The minister also highlighted that the president stressed the need for the committee to collaboratively establish an “affordable, sustainable, and realistic” minimum wage for Nigerians.
Secretary to the Government of the Federation, George Akume, subsequently called for an emergency meeting with labor leaders following the economic disruption caused by the strike on Monday.
At the conclusion of the meeting, it was announced that the Federal Government had offered to pay a minimum wage higher than N60,000.
