Indications suggest that organized labor is willing to revise its demand for a N1 million minimum wage for Nigerian workers, aligning it with current realities.
This shift is expected to be communicated to the Federal Government during the second meeting of the tripartite committee on the minimum wage scheduled for Monday and Tuesday.
The meeting aims to facilitate discussions among the involved parties, with the goal of announcing a new minimum wage by April 1, following the expiration of the current N30,000 minimum wage mandated by law.
President Bola Tinubu, represented by his deputy Kashim Shettima, inaugurated a 37-member panel on January 30, 2024, tasked with recommending a new national minimum wage.
The committee comprises representatives from federal and state governments, the private sector, and organized labor.
Shettima emphasized the importance of a timely resolution, given the impending expiration of the current minimum wage.
The House of Representatives had previously moved to amend the National Minimum Wage Act, mandating a compulsory review of workers’ remuneration every five years.
Despite the additional N35,000 wage award implemented to mitigate the impact of fuel subsidy removal, organized labor called for a comprehensive review of the minimum wage.
The panel, chaired by former Head of the Civil Service Bukar Aji, is committed to proposing a fair, practical, implementable, and sustainable minimum wage.
The second meeting of the committee is set for Monday and Tuesday, with expectations for timely action to ensure the enactment of a new Minimum Wage Act by April 1, 2024.
However, there is surprise and concern over the N500 million approved by the President for the committee, considering the leaked memo requesting N1.8 billion for its inauguration.
The memo emphasized the need for substantial funds to commence operations, citing the legal requirement to establish a new minimum wage by April 1, 2023.
