Finance Minister to Present Minimum Wage Template to President Tinubu Today

Minimum wage talks delayed pending Finance Minister’s submission to Tinubu, further negotiations set to follow

The Tripartite Committee on National Minimum Wage has postponed proceedings as they await the Finance Minister, Wale Edun, to present the salary template to President Bola Tinubu today.

Tinubu instructed the finance minister on Tuesday to deliver the cost implications for a new minimum wage within 48 hours.

The directive came during a meeting between Tinubu and the government negotiation team, led by the Secretary to the Government of the Federation, George Akume, at the presidential villa in Abuja.

Sources within the labor unions, knowledgeable about the committee’s deliberations, revealed that they decided to await the presidential template’s outcome before resuming negotiations.

A source present at the meeting stated, “The meeting has been adjourned until Thursday. We showed understanding because we all know that the president gave the minister of finance 48 hours to come up with a minimum wage. So, we decided to give them the time. We will be meeting by 2 p.m.”

A top labor official, representing labor on the tripartite committee, emphasized the template’s importance in the minimum wage negotiation process.

The minister of information and national orientation, Mohammed Idris, had hinted at the president’s desire to receive the financial implications of the new minimum wage within 48 hours.

During a briefing with journalists, Idris stated, “We were all there to look at all issues, and the President has directed the minister of finance to do the numbers and get back to him between today and tomorrow so that we can have figures ready for negotiation with labor.”

Idris assured of the president’s commitment to accept the committee’s resolutions, emphasizing that “The president is determined to go with what the committee has said and he’s also looking at the welfare of Nigerians.”

Furthermore, he relayed Tinubu’s directive for government representatives to collaborate with the private sector and sub-nationals to achieve a new affordable wage award for Nigerians.

Despite the delay in negotiations, the unions suspended industrial action for five days after Tinubu agreed to pay a national minimum wage higher than N60,000.

In response to the strike’s impact on the aviation sector, airline representatives lamented significant revenue losses and logistical challenges.

Looking ahead, stakeholders urged swift negotiations to reach a realistic and sustainable minimum wage agreement, emphasizing the need for honesty and pragmatism in the process.