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Tinubu to Announce New Minimum Wage on May 1st

Indications have surfaced suggesting that President Bola Tinubu could announce the eagerly anticipated new minimum wage on May 1, coinciding with International Labour Day. Sources within the National Minimum Wage Committee have revealed that efforts are underway to finalize negotiations before the deadline, with expectations high for an announcement during the President’s Workers’ Day address.

Speaking anonymously, a committee member disclosed, “Our target is to ensure that President Bola Tinubu announces the minimum wage by the 1st of May, which is the Workers’ Day, for it to take effect from April. So, we are working to meet the timeline.”

Tinubu

However, concerns arise as the current minimum wage of N30,000 is set to expire on March 31. The committee member acknowledged the tight timeline but noted that negotiations were ongoing to arrive at an agreeable minimum wage figure.

Labour, on the other hand, has issued a stern warning to state governors, vowing to resist anything short of full implementation of the new wage. The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) rejected governors’ pleas to consider individual states’ financial constraints, emphasizing the importance of a uniform wage nationwide.

Governors, through the Nigeria Governors’ Forum (NGF), emphasized the need for a balanced approach, considering states’ fiscal capabilities and the impact on both government and private sector employers. However, this stance has been met with staunch opposition from labour unions.

Meanwhile, negotiations for the new minimum wage continue, with various proposals and demands put forward across different zones in the country. Labour unions remain steadfast in their pursuit of a living wage for workers, citing inflation and economic challenges.

The looming deadline adds pressure on both parties to reach a consensus, with the fate of millions of workers hanging in the balance. As the nation awaits Tinubu’s announcement, tensions escalate between labour and state governments, setting the stage for potential industrial unrest if agreements cannot be reached.

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Tinubu

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