President Bola Tinubu is set to resume discussions with labour leaders on Thursday to find common ground on a new minimum wage, amidst calls by the Association of Local Government of Nigeria (ALGON) for a revised revenue formula favoring local government areas. Following the 15th Federal Executive Council meeting in Abuja on Monday, Minister of Information and National Orientation, Mohammed Idris, confirmed that Tinubu would continue consultations with stakeholders, aiming to finalize a consensus before transmitting an amendment bill to the National Assembly.
Last week’s meeting between the President and labour representatives did not yield a definitive figure on the new minimum wage, prompting a further session scheduled for Thursday. The Tripartite Committee on the New National Minimum Wage had previously submitted two differing proposals – N62,000 from the government and private sector, and N250,000 from Organised Labour.
Upon receiving the committee’s report, President Tinubu opted for additional dialogue with stakeholders to align the figures before presenting an executive bill to the National Assembly. The Minister highlighted ongoing efforts by the government to ensure a minimum wage that accommodates all stakeholders, including the federal government, sub-national entities, and the private sector.
Meanwhile, ALGON President Aminu Mu’azu-Maifata emphasized the need for increased allocations to local governments to support the implementation of the new minimum wage once enacted. He stressed the importance of revising revenue sharing formulas to empower local councils adequately.
Mu’azu-Maifata praised the recent Supreme Court decision granting financial autonomy to local governments, foreseeing enhanced grassroots democracy and improved service delivery across the country. He urged all council chairpersons to leverage this autonomy to meet the expectations of their constituents effectively.
In conclusion, the government remains committed to achieving a sustainable minimum wage that avoids inflationary pressures and ensures broad-based support from all sectors, with plans underway to amend the budget to accommodate fiscal adjustments necessitated by the impending wage increase.
