Tinubu Gives Finance Minister 48-Hour Ultimatum on Minimum Wage Costs
Tinubu gives the Finance Minister 48 hours to demonstrate the costs associated with the minimum wage.
The cost implications of a new minimum wage that is reasonable, sustainable, and realistic must be determined, and President Bola Tinubu gave Wale Edun, the minister of finance and economic coordination, two days to submit the statistics.
He issued the directive during a meeting at the presidential palace in Abuja with the government negotiation team, which was headed by the secretary to government of the federation, George Akume.
Mohammed Idris, the Minister of Information and National Orientation, said this to reporters following the closed-door meeting.
The ministers of finance, budget, national planning, labour, and information, as well as the group managing director and chief executive officer of the Nigeria National Petroleum Company Limited, are among the other members of the team that have been meeting with organized labour.
According to Idris, the president gave the finance minister instructions to provide the updated minimum wage figures, which will serve as the starting point for talks with organized labour.
The ministry of information declared: “The president has just summoned a meeting of all those who negotiated on behalf of the federal government led by the secretary to the government of the federation, the minister of finance was there the minister of budget planning, the minister of information, the minister of budget and national planning, the minister of labour, and the NNPCL GMD.
“We were all there to look at all issues and the president has directed the minister of finance to do the numbers and get back to him between today and tomorrow so that we can have figures ready for negotiation with labour.”
Idris gave his word that the president would be willing to implement the committee's recommendations with the Labour, citing his dedication to the well-being of Nigerians.
He clarified that the federal government is eager to maintain a balance between its obligations and the nation's economic reality.
The official from the government also said: “And let me say that the president is determined to go with what the committee has said and he's also looking at the welfare of Nigerians.
“Government is not against or opponent of labour discussions, government is not an opponent of wage increase but what is there is that government is always there to ensure that there is a balance between what government pronouncement is and what the realities are on ground.
“And therefore, we will work assiduously to ensure that whatever promises government makes is promise that will be kept that is the idea of this meeting.”
In addition, he stated that President Tinubu has instructed government officials to collaborate with the subnationals and the organized private sector in order to establish a new, sustainable, and reasonably priced salary award for Nigerians.
Idris clarified: “The President has given a matching order that all those who have negotiated on behalf of the federal government and all those who are representatives of organised private sectors, the sub nationals to come together to have a new wage award that is affordable, sustainable and that is also realistic for Nigerians.
“The wage award is not just that of the federal government like I mentioned earlier, the sub nationals are involved, the organised private sector is involved; it was labour that stepped out during that procedure. Now we have come back to the negotiation table.”
The minister gave an assurance that all sides engaged in the new minimum wage negotiations would work with organized labor to present a new minimum pay for Nigerians within a week, pointing out: “All of us will work together assiduously within the next one week to ensure that we have a new wage for Nigeria that is acceptable, sustainable and also realistic.”
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