Minimum Wage Talks: Labour Considers N100,000 as Tinubu Issues Ultimatum

President Bola Tinubu has issued a directive to expedite negotiations on a new minimum wage as the Tripartite Committee on National Minimum Wage convenes for daily meetings to resolve the ongoing wage dispute. Labour unions have signaled their willingness to lower their initial demand from N494,000 to N100,000.

Multiple sources from the labour movement revealed this shift following widespread criticism of the original proposal, deemed unrealistic. The Minister of Information, Mohammed Idris, highlighted the financial strain the initial proposal would impose, estimating an annual cost of N9.5 trillion, which he described as untenable.

Amidst nationwide economic disruptions caused by an indefinite strike that commenced on Monday, President Tinubu instructed the Minister of Finance, Wale Edun, to present cost implications for a revised minimum wage within two days. This directive came during an emergency meeting with the government negotiation team led by Secretary to the Government of the Federation, George Akume.

Labour unions have temporarily suspended their strike for five days, pending the outcome of these negotiations. A senior NLC official indicated that the unions are steadfast in their new demand of N100,000, emphasizing the need for an agreement by next week.

The Deputy Head of NLC Political Commission, Prof. Theophilus Ndubuaku, confirmed that the committee is focused on setting a clear agenda for the week’s negotiations. The unions maintain a stance of vigilance, ready to resume the strike if satisfactory progress is not achieved.

Trade Union Congress President Festus Osifo stressed that labour would reject any minimal increases from the current offer of N60,000. He emphasized that the new wage must reflect the current economic realities and inflationary pressures.

President Tinubu has reiterated his commitment to finding a balanced solution that addresses workers’ needs while maintaining fiscal responsibility. The government aims to collaborate with the organized private sector and sub-national entities to establish an affordable and sustainable wage.

Opposition lawmakers in the House of Representatives and Senate have also weighed in, advocating for a minimum wage higher than N100,000, with some suggesting amounts up to N150,000. The Senate has proposed sending a delegation to mediate between the government and labour unions to expedite a resolution.