Finance Minister to Present Plan to President Tinubu Today On Minimum wage.
The Federal Government and labor unions postponed their minimum wage talks until today, awaiting a salary template from Finance Minister Wale Edun. President Tinubu directed Edun to present cost implications for a new minimum wage within 48 hours. Following a two-day nationwide strike, both parties aim to finalize a new, sustainable wage quickly, with collaboration from the private sector and state governments.
Government and Labor Postpone Talks
On Wednesday, the Federal Government and Organized Labour postponed their discussions about the new minimum wage until today, Thursday. The Tripartite Committee on National Minimum Wage delayed the talks because the Minister of Finance, Wale Edun, will submit a salary plan to President Bola Tinubu. He directed the finance minister on Tuesday to present the cost details for a new minimum wage within two days. The President gave this order during a meeting with the government negotiation team, led by the Secretary to the Government of the Federation, George Akume, at the presidential villa in Abuja.
The government and labor unions will resume talks today, awaiting the finance minister’s minimum wage plan following President Tinubu’s directive.
Federal Government of Nigeria, President Bola Ahmed Tinubu
Waiting for Finance Minister’s Report
Labor union sources said they are waiting for the finance minister’s report before continuing negotiations. One source at the meeting said, “We postponed the meeting until Thursday to give the finance minister time to come up with the minimum wage plan. We will meet again at 2 p.m.A labor representative explained that the finance minister’s template is crucial for the minimum wage negotiations. Though not authorized to speak to the media, he expressed confidence that the talks would progress once the template is presented. Minister of Information and National Orientation, Mohammed Idris, said the President wants to know the financial implications of the new minimum wage within 48 hours. Idris assured that the President is committed to improving Nigerians’ welfare and will support the committee’s decisions.
NLC President, Joe Ajaero and others
Collaboration with Private Sector and States
Idris explained that President Tinubu has instructed government representatives to work with the private sector and state governments to agree on an affordable new wage for Nigerians. He said, We will work together to ensure a new wage is acceptable, sustainable, and realistic for Nigerians. Despite the National Assembly’s intervention, labor unions went on strike nationwide on Monday and Tuesday, shutting down banks, airports, public schools, and courts. This led the Federal Government to call an emergency meeting. After meeting with key government figures, the unions paused their strike for five days after President Tinubu agreed to a new minimum wage higher than N60,000.
Impact on Airlines
The strike caused significant financial losses for airlines. United Nigeria Airlines’ COO, Osita Okonkwo, said, “We lost millions due to canceled flights over two days.” Ibom Air’s COO, George Uriesi, and other aviation experts highlighted the broader impact on the aviation industry, including losses for airports, taxi drivers, and others. Debo Adeniran, Executive Director of the Centre for Anti-Corruption and Open Leadership, urged the government and labor unions to finalize their talks quickly. He said, “They should conclude everything by the end of today.” Similarly, Auwal Rafsanjani from the Civil Society Legislative Advocacy Centre called on the government to be honest and realistic in negotiations. The discussions continue today, with hopes of reaching a swift and fair resolution for the new minimum wage.
The result of today’s meeting depends on the finance minister’s report. It’s very important for deciding the new minimum wage quickly, meeting the demands of the labor unions, and keeping the economy stable.
