Federal Executive Council Defers Decision on National Minimum Wage for Further Consultations

The Federal Executive Council (FEC) has deferred a decision on the proposed National Minimum Wage, pending further consultations by President Bola Ahmed Tinubu with state governors and the organized private sector. The announcement was made by the Minister of Information and National Orientation, Mohammed Idris, following a FEC meeting chaired by President Tinubu on Tuesday.

Minister Idris explained that the memo on the national minimum wage report, submitted by the tripartite committee, was temporarily shelved to allow for broader discussions. “The new national minimum wage concerns not only the federal government but also involves state and local governments, the organized private sector, and members of organized labour,” Idris stated. The decision to delay was made to give President Tinubu time to engage with relevant stakeholders before finalizing decisions and presenting an executive bill to the National Assembly.

Regarding the extension of the Wage Award, which expired in February 2024, the Minister assured that discussions are ongoing. He emphasized that the government is open to a wage increase and that the issue requires input from both the organized private sector and state governments.

“Currently, the committee has proposed N62,000, and President Tinubu is committed to further engagement to establish a new national minimum wage that is effective and sustainable,” Idris added.

In recent negotiations, the Nigerian government team and the organized private sector offered a minimum wage of N62,000 during the final session of the tripartite committee’s meeting. However, organized labour, represented by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), has advocated for a significantly higher living wage of N250,000.

The decision to defer the memo underscores the complex nature of establishing a new national minimum wage that adequately addresses the needs of various stakeholders across the country.

0 0
Article Categories:

Comments are closed.

Verified by MonsterInsights