Ongoing minimum wage discussions among organised labour, the federal government, states, and local governments are likely to result in a compromise of ₦70,000.
According to an inside source, President Bola Tinubu is set to send an executive bill to the National Assembly next week, recommending a ₦62,000 minimum wage as per the tripartite committee’s suggestion.
However, as in 2019, the National Assembly may approve a higher amount. A committee member, speaking anonymously, revealed that Tinubu plans to propose ₦62,000, but the National Assembly might increase it to ₦70,000. The source stated, “This mirrors the 2018-2019 scenario when the federal government recommended ₦23,000, but the National Assembly raised it to ₦30,000.”
The National Assembly’s expected increase to ₦70,000 would be framed as a response to economic realities and public sentiment. While some states may argue they cannot afford this amount, the federal government is prepared to provide bailouts to ensure compliance.
The push for ₦70,000 is partly influenced by Edo State already implementing this wage. Some governors are also advocating for a revised revenue-sharing formula to support the new wage and related adjustments.
The Nigeria Governors Forum (NGF) recently stated that a ₦60,000 minimum wage is unsustainable, though they agree a new wage is necessary. NGF’s acting Director of Media and Public Affairs, Hajiya Halimah Salihu Ahmed, emphasized the need for any wage agreement to be realistic and sustainable, considering consequential adjustments for all cadres, including pensioners.
This article is sourced from The ThisDay newspaper, with minor edits and adaptations by The Spectacles for clarity and readability.
