Nigerian President Bola Tinubu on Tuesday gave a marching order to the Minister of Finance and Coordinating Minister of the economy, Mr Wale Edun, to come up with cost Implications on the new minimum wage and present an affordable, sustainable and realistic figure within two days.
Jerrymusa.com reports that the President also directed the Finance Minister to present new minimum wage figures within two days, forming a basis for negotiation with organized labor. The President urged all parties involved to expedite the process to conclude the new minimum wage negotiations as soon as possible.
Nigerian Government Swift Response
The directive came during a meeting with federal government representatives on the Tripartite Committee on the new National Minimum Wage. The meeting aimed to resolve contentious issues and find amicable solutions.
The Minister of Information, Mohammed Idris, stated that the government is committed to finding a balance between its pronouncements and ground realities, ensuring that any promises made are kept.
The President has ordered all negotiators to work together to achieve a new wage award that is acceptable, sustainable, and realistic for Nigeria within the next week.
The labor unions had suspended their strike following the government’s commitment to increase the minimum wage offer above N60,000, and the Tripartite Committee will resume daily negotiations to conclude talks on the new wage.