The Federal Executive Council (FEC) has delayed the decision on the new minimum wage to allow President Bola Tinubu to consult with state governors and the private sector. This move aims to gather input from all relevant stakeholders before finalizing the wage proposal.
Minister of Information Mohammed Idris announced the decision following the FEC meeting. Idris emphasized that the new minimum wage will impact not just the federal government but also state and local governments, as well as the private sector. Therefore, broader consultation is essential to ensure an informed and balanced decision.
“The federal executive council deliberated on the report of the tripartite committee on the new national minimum wage. The decision is that the memo was stepped down to enable Mr. President to consult further with state governors and the organized private sector before presenting an executive bill to the national assembly,” Idris explained.
Over recent months, negotiations on the new minimum wage have seen significant differences, with the government proposing N62,000, while organized labor demands N250,000. State governors have expressed concerns about the sustainability of even a N60,000 wage.
The tripartite committee’s report, submitted to Secretary to the Government of the Federation George Akume, remains a key reference point as President Tinubu seeks a consensus among all parties involved.
While the decision on the new minimum wage is on hold, President Tinubu’s forthcoming consultations aim to ensure a comprehensive and realistic approach to the issue that aligns with the capacities and circumstances of all wage-paying entities.
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