Rumors suggest President Bola Tinubu could unveil the updated minimum wage before May 1, coinciding with International Labour Day, and backdate its implementation to April.
Sources indicate the National Minimum Wage Committee aims to wrap up negotiations before the deadline, anticipating the President’s announcement during his Workers’ Day address.
A committee insider, preferring anonymity due to the sensitivity of the matter, disclosed ongoing discussions and the timeline, stressing the need for swift action.
When reminded of the March 31 expiration of the current wage, the insider acknowledged the challenge but expressed confidence in reaching a consensus, emphasizing the complexity of the process.
Efforts include consultations with labor unions, employers, and government representatives, balancing feasibility and fairness.
While the Minister of Information and National Orientation remained unreachable, presidential aides hinted at a potential earlier announcement if negotiations conclude promptly, highlighting the legal obligation to finalize discussions by early April.
