The Federal Government has expressed optimism that the ongoing impasse over the new minimum wage will be resolved next week.
This announcement came following a closed-door session between President Bola Tinubu and leaders of organized labor at the State House on Thursday. The meeting, which lasted about an hour, is set to reconvene next week to continue discussions on the new minimum wage.
The decision to hold more engagements with stakeholders prior to finalizing the matter reflects President Tinubu’s commitment to ensuring a thorough and inclusive decision-making process. The session was attended by the Secretary to the Government of the Federation, various ministers, heads of agencies, and aides to the President.
The President’s Special Adviser on Media, Ajuri Ngelale, released a statement in which President Tinubu expressed his concern for the welfare of Nigerian workers while also calling for realistic expectations regarding the minimum wage.
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“I pay attention to everything around me. A happy worker is a productive worker. And society depends on the productivity of the happy worker,” Tinubu said. “You have to cut your coat according to the available cloth. Before we can finalize the minimum wage process, we have to look at the structure.”
The President also questioned the current practice of adjusting wages every five years and suggested considering more frequent reviews.
“Why must we adjust wages every five years? Why not two? Why not three years? What is a problem today can be eased up tomorrow. We can take a surgical approach that is based on pragmatism and a deep understanding of all factors,” he added.
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The organized labor, represented by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), has maintained its demand for a ₦250,000 minimum wage, while the tripartite committee had proposed ₦62,000.
During the meeting, NLC President Joe Ajaero and TUC President Festus Osifo emphasized that these figures remain unchanged until further discussions with President Tinubu.
Ajaero clarified that the meeting was a discussion rather than a negotiation, with both parties agreeing to revisit the terms and reconvene next week. “In the real sense, it wasn’t a negotiation but a discussion, and we have had that discussion.
We agreed to look at the real terms and probably reconvene in the next week. So, that’s where we are because we didn’t go down there to talk naira and kobo,” Ajaero stated. Osifo highlighted the economic difficulties faced by Nigerians and the impact of the depreciating naira on the prices of goods and commodities.
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“In the meeting, we tried to put the issues on the table—issues that are bothering and biting Nigerians today. The economic difficulties and the value of the naira, how it has also eroded, and how these have affected the prices of commodities and goods in the market,” Osifo explained.
He added that the labor delegation wanted to directly present these issues to President Tinubu, seeking a resolution that considers the economic analysis and fiscal realities facing the country.
The meeting concluded with an agreement to internalize the discussions and reconvene in a week to continue the dialogue. The government remains hopeful that these continued engagements will lead to a mutually acceptable resolution, ensuring improved welfare for Nigerian workers while maintaining economic stability.