NEC Meeting, Tinubu to Discuss new minimum wage

President Bola Tinubu is set to discuss the new national minimum wage with state governors at the 142nd meeting of the National Economic Council (NEC) at the Aso Rock Villa, Abuja, on Thursday. This comes after the Federal Executive Council (FEC) stepped down the memo on the new minimum wage to allow President Tinubu to consult further with stakeholders.

The President’s Chief of Staff, Femi Gbajabiamila, revealed plans for the unusual appearance of the President at the NEC meeting, highlighting the importance of the minimum wage issue. The meeting is expected to address the concerns of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), who have been advocating for a new minimum wage.

President Tinubu’s decision to consult with state governors and the Organised Private Sector (OPS) on the new minimum wage underscores the government’s commitment to addressing the issue. The President has directed the Minister of Finance, Wale Edun, to present the cost implications of an affordable, sustainable, and realistic new minimum wage within two days.

The Tripartite Committee on the National Minimum Wage is expected to meet daily for the next one week to arrive at an agreeable new minimum wage. The Federal Government has expressed its commitment to a National Minimum Wage that is higher than N60,000.

The NLC and TUC have called off their planned nationwide strike to allow for further negotiations with the Federal Government. The unions have agreed to convene a meeting of their organs immediately to consider the government’s commitment to a higher minimum wage.

The outcome of the NEC meeting and the subsequent negotiations on the new minimum wage will be closely watched by workers and employers across the country. The government’s commitment to a new minimum wage that is affordable, sustainable, and realistic will be crucial in addressing the concerns of workers and maintaining industrial harmony in Nigeria.