In an exclusive interview with The Nation newspaper, President Bola Tinubu shed light on the delay in introducing a new minimum wage, emphasizing his government’s focus on considering the financial well-being of states before finalizing a universally applicable wage structure across all sectors nationwide.
Acknowledging the concerns surrounding the unveiling of the new minimum wage and its management by states, particularly those with limited resources, President Tinubu’s administration has provisionally increased the federal minimum wage to N35,000 per month for a six-month period, with two months already disbursed. This decision followed extensive consultations with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).
Addressing the intricacies of each state’s financial situation, efforts are underway to collaborate closely with states in ensuring the practicality and sustainability of the new wage structure. Strategies aimed at strengthening state economies through considerations like tax efficiency and economic diversification are being actively pursued.
President Tinubu affirmed a commitment to continuous dialogue with labor unions and state governments, emphasizing the importance of this collaborative approach to ensure a fair, reasonable, and implementable new minimum wage system nationwide. The administration’s objective remains centered on striking a balance between the economic well-being of workers and the overall financial health of the nation.
Meanwhile, organized labor in the country has signaled its intention to take a firm stance on the suspension of wage award payments to civil servants. They have cautioned federal and state governments to prepare for an increase in the minimum wage from the current N30,000 monthly, emphasizing that once signed into law next year, state governors will have no option but to comply.
