President Bola Tinubu will meet with labour leaders on Thursday to continue discussions on a new minimum wage for Nigerian workers. This follows a previous meeting with Nigeria Labour Congress (NLC) President Joe Ajaero and Trade Union Congress (TUC) President Festus Osifo, where no agreement was reached.
Minister of Information and National Orientation, Mohammed Idris, stated that an amendment bill to the 2024 budget would be sent to the National Assembly once a consensus is reached. The discussions have presented two proposals: ₦62,000 from the government and private sector, and ₦250,000 from Organised Labour, compared to the current ₦30,000 minimum wage.
Additionally, the Association of Local Government of Nigeria has called for a new revenue formula favoring the 774 local government areas.
President Tinubu emphasized the need for realistic expectations and careful consideration of the economic structure before finalizing the minimum wage. The outcome of Thursday’s meeting will shape the executive bill to be presented to the National Assembly.
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