Cabinet Meeting: FEC Set to Receive Minimum Wage Report Tuesday

The Federal Executive Council (FEC) is expected to receive the report of the Tripartite Committee on Minimum Wage on Tuesday, barring any changes. This report follows the committee’s meeting on June 7, 2024, where the federal government proposed a minimum wage of ₦62,000, causing a split with the Organised Labour, which is demanding ₦250,000.

Organised Labour has remained firm on its demand and has called on President Bola Tinubu to offer a higher wage than what is proposed by the federal government and the private sector.

The committee has submitted its report to the Secretary to the Government of the Federation for onward transmission to President Tinubu, who will then present it to the FEC. During a Democracy Day dinner, President Tinubu emphasized that his administration would only pay what Nigeria can afford, saying, “The minimum wage is going to be what Nigerians can afford, what you can afford, and what I can afford.”

Organised Labour has rejected the ₦62,000 proposal, insisting on a “non-starvation” wage of ₦250,000. They have also urged the President to use his authority to offer workers a better deal.

The FEC is anticipated to deliberate and approve a new figure, which will be included in a Minimum Wage Bill to be submitted to the National Assembly. The Minister of Justice and Attorney General of the Federation will draft this Bill.

Sources indicate that the National Assembly is prepared to expedite the passage of the new Minimum Wage Bill. The current minimum wage law, which took effect in 2019, expired on April 1, 2024.

Minister of State for Labour and Employment, Nkiruka Onyejeocha, assured during the Workers’ Day celebration that the new law would be backdated to May 1, 2024, regardless of the delays. She emphasized the government’s commitment to concluding negotiations and implementing the new wage from May 1, 2024.