Minimum Wage: Why Must We Adjust Wages Every Five Years? – Details Of What President Tinubu Told Labour Leaders Emerge
On Thursday, President Bola Tinubu urged organized labour to accept ₦62,000 as the new minimum wage for Nigerian workers.
This appeal came during a meeting between the federal government and labour leaders, which was detailed by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, on the social media platform X (formerly Twitter).
Present at the meeting were Joe Ajaero, President of the Nigeria Labour Congress (NLC), Festus Osifo, President of the Trade Union Congress (TUC), and other labour representatives.
Onanuga reported that President Tinubu questioned the current practice of adjusting wages every five years, suggesting that adjustments could be made every two or three years instead.
President Tinubu described the ₦62,000 figure as a “first baby step” in addressing the minimum wage issue and indicated that further reviews could be conducted if the minimum wage law is revised.
He emphasized the importance of flexibility in wage adjustments, stating, “What is a problem today can be eased up tomorrow.”
Additionally, the meeting included briefings on the state of the economy from Wale Edun, the Coordinating Minister of the Economy, and Mele Kyari, Group Managing Director of the Nigeria National Petroleum Company (NNPC) Limited. Despite the President’s appeal, labour representatives continue to insist on a minimum monthly wage of ₦250,000.
The negotiations between the Federal Government and central labour unions have been adjourned until next Thursday for further discussions.