President Bola Tinubu has instructed the Minister of Finance, Wale Edun, to present the financial implications of a new minimum wage within 48 hours. This directive is part of an urgent effort to finalize a new wage structure for Nigerian workers.
The announcement was made by the Minister of Information and National Orientation, Mohammed Idris, following a meeting with the negotiation team at the Presidential Villa in Aso Rock on Tuesday.
“All parties to the negotiation of the new minimum wage would work together with the organised labour to present a new minimum wage for Nigerians in one week,” Idris said. He emphasized the collective commitment to achieving a wage that is “acceptable, sustainable, and realistic.”
Idris further disclosed that President Tinubu has given a “marching order” for all representatives involved in the negotiations—including those from the Federal Government, organised private sectors, and sub-nationals—to collaborate effectively. “We will work together assiduously within the next one week to ensure that we have a new wage for Nigeria that is acceptable, sustainable, and realistic,” he added.
The directive comes amid ongoing discussions and mounting pressure from labour unions, who have been advocating for a substantial increase in the national minimum wage to address inflationary pressures and improve workers’ living standards.
The government’s swift action reflects its intent to resolve the wage issue promptly and prevent further disruptions. The outcome of these negotiations will significantly impact the economic landscape and the well-being of Nigerian workers.