By Ade Ayodele
President Bola Tinubu has directed the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to determine the cost implications of a new national minimum wage within 48 hours. This directive was issued at the State House on Tuesday, June 4, during a meeting with the federal government’s negotiation team, following their discussions with organized labour, which led to the suspension of a nationwide strike.
Minister of Information and National Orientation, Mohammed Idris, informed journalists that the Minister of Finance has until Wednesday to provide the necessary figures to guide further negotiations with organized labour.
The meeting was attended by several high-ranking officials, including the Secretary to the Government of the Federation (SGF) George Akume; Minister of Budget and Economic Planning, Atiku Bagudu; Minister of State for Labour and Employment, Nkeiruka Onyejeocha; and the Group Managing Director of the NNPC, Mele Kyari. Idris stated that the purpose of the meeting was to reconcile government pronouncements with economic realities.
Idris expressed gratitude that Labour had suspended their strike and highlighted the President’s commitment to an acceptable, sustainable, and realistic new minimum wage for all Nigerians, including federal, sub-national, and private sectors. He emphasized that the government supports wage increases but seeks to ensure any agreement is sustainable.
Idris reiterated that President Tinubu is dedicated to implementing a new minimum wage that aligns with the recommendations of the negotiating committee, considering the welfare of Nigerians. He emphasized the importance of balancing government promises with economic realities to ensure commitments are met.
The President has ordered that all representatives involved in the negotiations, including those from the organized private sector and sub-nationals, collaborate to establish a new wage award that is acceptable and realistic for all Nigerians. With the suspension of the strike, the government aims to finalize the new wage agreement promptly.