On Tuesday, President Bola Tinubu gave Mr. Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, a two-day deadline to determine the financial consequences of a new minimum wage for Nigerian workers that is reasonable, sustainable, and realistic.
At a closed-door meeting at the State House in Abuja with the government negotiation team headed by Senator George Akume, the Secretary to the Government of the Federation, the president issued the directives.
Following the discussion behind closed doors, Mohammed Idris, the Minister of Information and National Orientation, informed reporters of the president’s directive.
The Ministers of Finance, Budget and National Planning, Labor, and Information, as well as the Group Managing Director and Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), were among the other members of the team that has been meeting with organized labor and were present at President Tinubu’s meeting on Tuesday.
According to Idris, the president gave the finance minister instructions to provide the updated minimum wage figures, which will serve as the starting point for talks with organized labor.
According to the information minister, “The president has just summoned a meeting of all those who negotiated on behalf of the Federal Government led by the secretary to the government of the federation. The minister of finance was there, the minister of budget and national planning, the minister of information,the minister of labour and the NNPCL GMD.
“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 labour.”
Nigerians were reassured by Idris that, in keeping with his dedication to their welfare, the president was willing to accept the committee’s recommendations with the labor representatives.
According to his explanation, the Federal Government is eager to make sure that its obligations are balanced with the nation’s economic circumstances.
His words: “And let me say that the president is determined to go with what the committee has said and he’s also looking at the welfare of Nigerians.
“Government is not against or an opponent of labour discussions. Government is not an opponent of wage increase but what is there is that government is always there to ensure that there is a balance between what government pronouncement is and what the realities are on ground.
“And therefore, we will work assiduously to ensure that whatever promises government make are promises that will be kept. That is the idea of this meeting.”
The minister added that in order to establish a new, fair, and long-term salary award for Nigerians, President Tinubu has instructed government delegates attending the tripartite committee meeting to collaborate with the organized private sector and sub-nationals.
“The president has given marching orders that all those who have negotiated on behalf of the Federal Government and all those who are representatives of organised private sectors, the sub nationals, to come together to have a new wage award that is affordable, sustainable and that is also realistic for Nigerians.
“The wage award is not just that of the Federal Government like I mentioned earlier, the sub nationals are involved, the organised private sector is involved; it was labour that stepped out during that procedure. Now we have come back to the negotiation table,” he said.
Idris gave Nigerians the assurance that all parties involved in the minimum wage negotiations would collaborate with organized labor to present a new minimum salary for Nigerians within a week.
“All of us will work together assiduously within the next one week to ensure that we have a new wage for Nigeria that is acceptable, sustainable and also realistic,” he further stressed.