President Bola Ahmed Tinubu has invited the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) for a crucial meeting on the minimum wage proposal on Thursday, July 11, 2024, at the Presidential Villa in Abuja.
The meeting comes about a month after Tinubu announced in his Democracy Day speech on June 12, 2024, that an executive bill on a new national minimum wage for workers would soon be sent to the National Assembly for passage.
According to a close source within the labour leadership, who spoke on the condition of anonymity, the President is expected to make a decision on the ₦62,000 proposal from the government and private sector side, as well as the ₦250,000 demand from the Organised Labour.
The negotiations for a new minimum wage in Nigeria have been ongoing since the Minimum Wage Act of 2019, which set ₦30,000 as the minimum wage, expired in April 2024. This Act mandates a review every five years to adjust to current economic conditions affecting workers.
In January, President Tinubu established a Tripartite Committee to negotiate a new minimum wage, involving Organised Labour, representatives from federal and state governments, and the Organised Private Sector. However, the committee failed to agree on a new wage, prompting labour to commence an indefinite strike on June 3, 2024, which disrupted operations across various sectors.
The strike was temporarily suspended on June 4, 2024, following assurances from the President that a wage exceeding ₦60,000 was being considered. Subsequently, the TUC and NLC leaders resumed discussions with government and private sector representatives.
The Thursday meeting at the Presidential Villa is seen as a crucial step in resolving the ongoing minimum wage negotiations and addressing the demands of the Nigerian workforce.