Nigeria’s Federal Executive Council (FEC) is set to convene today to address several pressing issues, with a special focus on the ongoing minimum wage dispute between the federal government and organized labor groups.
The meeting comes on the heels of a recent directive from President Bola Tinubu to schedule FEC meetings every Monday, a change from the previous Wednesday schedule. The primary item on the agenda is the contentious minimum wage impasse.
According to a report by Daily Trust, the federal government has acknowledged its capacity to raise the minimum wage to ₦62,000, after receiving a report from a recently established tripartite committee. However, labor unions, represented by the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC), are holding out for a ₦250,000 minimum wage.
Today’s FEC meeting is expected to be crucial, as it aims to bridge the gap between the government’s proposal and labor’s demands. The council is anticipated to thoroughly assess labor’s position and what the government can feasibly manage.
The resolution of the minimum wage debate is of significant importance, as it not only affects millions of workers but also has broader economic implications in terms of purchasing power and consumer spending.
It is expected that the outcome of the meeting will lead to the drafting of an executive bill, which will then be presented to the National Assembly in an effort to resolve the wage issue.