President Bola Tinubu says a new minimum wage will be fixed after reviewing the “structure” of the wage bill.
Tinubu spoke on Thursday while addressing the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) during a meeting at the State House, Abuja.
Tinubu told the labour leaders that his administration prioritises the welfare of workers, adding that “society depends on the productivity of happy workers”.
“You have to cut your coat according to the available cloth. Before we can finalise the minimum wage process, we have to look at the structure,” Ajuri Ngelale, presidential spokesperson, quoted Tinubu as saying in a statement.
“Why must we adjust wages every five years? Why not two? Why not three years? What is a problem today can be eased up tomorrow.
“There is much dynamism to this process if we are not myopic in our approaches.
“We can take a surgical approach that is based on pragmatism and a deep understanding of all factors.”
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On his part, Joe Ajaero, NLC president, said things are difficult for Nigerian workers, adding that there must be a balance between the living wage and the minimum wage.
Festus Osifo, TUC president, said the rising inflation in the country has eroded the value of the naira.
Over the past few months, labour unions, federal and state governments, and the private sector have been deliberating on a new minimum wage.
On June 3, the labor unions grounded the nation’s economy over the minimum wage dispute.
The NLC and TUC had proposed N494,000 as the new national minimum wage, citing inflation and the prevailing economic hardship in the country, while rejecting the federal government’s proposed N60,000 minimum wage offer.
On June 7, state governors under the aegis of the Nigerian Governors Forum (NGF), said a N60,000 minimum wage would prove unsustainable.
At the last meeting of the tripartite committee, organised labour rejected the N62,000 proposed by the government and lowered its demand to N250,000.
The federal government had asked the labour unions to demand a more realistic and sustainable wage.
Tinubu had also directed Wale Edun, minister of finance, to present the cost implications for a new minimum wage.
Mohammed Idris, minister of information and national orientation, said the presentation would form the basis of further negotiations.
