BREAKING: Tinubu gives 48-hour directive to Finance Minister over minimum wage

President Bola Tinubu issued a marching order on Tuesday to the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, to prepare cost implications for the new minimum wage and produce an affordable, sustainable, and realistic amount within two days.

The President also asked the Minister of Finance to deliver the new minimum wage figures within two days as a starting point for negotiations with organised labour.

He further directed all those involved in the negotiation to expedite action so that everything on the new minimum wage would be concluded as soon as possible.

President Tinubu gave the order when he summoned the federal government representatives in the Tripartite Committee on the new National Minimum Wage.

Those at the meeting with the President were the Minister of Finance and coordinating minister of the economy, Wale Edun, the Minister of Budget and National Planning, Atiku Bagudu, the Minister of State for Labour and Employment, Nkeiruka Onyejeocha, the Minister of Information and National Orientation, Mohammed Idris and the Chief Executive Officer of the Nigeria National Petroleum Company Limited, CEO NNPCL, Melee Kyari.

Speaking after the meeting, the Minister of Information and National Orientation, Mohammed Idris, said that the meeting was summoned by President Tinubu to
look at the contentious issues and find amicable solutions to them.

Asked how they have been negotiating with the organized labour and how sure he was that within the next seven days they would arrive at a lasting solution, the Minister said, “It has been quite challenging but we thank God that we are at this point. We thank labour that they suspended their strike early this morning.

“Government on its side, the President had just summoned a meeting of all those who negotiate on behalf of the Federal government led by the Secretary to the government of the Federation, and the Minister of Finance was there, the Minister of budget and economic planning. Myself, the Minister of Labour, and the group managing Director of the NNPC were all there to look at those issues.

“And then, the President has directed the Minister of Finance to do the numbers and get back to him between today (Tuesday) and tomorrow (Wednesday), so that we can have some figures ready for negotiation with labour.

“Let me say that Mr. President is determined to go with what the committee has said. He’s also looking at the welfare of Nigerians. As I’ve said earlier, the government is not against it, it’s not an opponent of labour discussions. It’s not an opponent of wage increases.

“But what is there is that government is always desirous of ensuring that there is a balance between what government pronouncement is and what realities are on the ground and therefore we’ll work assiduously to ensure that whatever we do, whatever promises the government makes will be kept, that’s the idea of this meeting.

“The President has given a marching order to all those who negotiate on behalf of the government and all those also who are representative of other sectors, the organized private sector, the sub nationals come together so that we can have a new wage award that is acceptable, that is sustainable, and that is also realistic for Nigeria.

“A wage award is not just that of the federal government as I mentioned earlier, the sub-nationals are involved, the organized private sector is involved, labour is involved. It was a labour that stepped out during those proceedings now that we have come back to the negotiating table.

“All of us will work together again, seriously within the next one week, to ensure that we have a new wage for Nigeria that is acceptable. That is sustainable. That is also realistic for all Nigerians.”

Recall that on Friday before the organised labour comprising the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, declared an indefinite strike that commenced on Monday, June 3, it had stated that the federal government team had reported that they were unable to reach the President, hence, they could not make fresh offer beyond the initial N60,000.

Following the effectiveness of the strike, Secretary to the Government of the Federation, SGF, Senator George Akume met in his office with the NLC President, Comrade Joe Ajaero and the Trade Union Congress, TUC, President, Comrade Festus Osifo alongside other representatives of the labour movement.

After the meeting, it was announced that President Tinubu has agreed to increase the minimum wage offer above N60,000 and it was resolved that the Tripartite Committee on the new minimum wage would resume daily negotiations for one week to conclude talks on new wage

Consequently, after the National Executive Council, NEC, meeting at the Labour House, Abuja where the resolution to suspend the nationwide strike which virtually paralyzed the economy on Monday, was taken, the organized labour said it was resuming negotiation with the government by 1 pm on Tuesday.

Recall also that the leadership of the National Assembly had met with the organized labour on Sunday night, where it pleaded that the labour and Federal Government should find a middle ground to resolve the face-off.

It also said that the government should continue to pay the N35,000 wage award until when a new minimum wage would come into effect.