The highly anticipated announcement regarding the national minimum wage is expected today, Thursday, as President Bola Ahmed Tinubu meets with organized labor at the Presidential Villa. This meeting, which follows last week's discussions, aims to finalize negotiations on the new minimum wage between the President and labor leaders.
The Federal Government has proposed a minimum wage of N62,000, while labor is insisting on N250,000, citing current economic conditions. During last week's discussions, both sides expressed their perspectives, with President Tinubu urging labor to take available resources into account. He also proposed reviewing the minimum wage every two or three years instead of the current five-year cycle to prevent controversies.
The Minister of State for Labour and Employment, Nkeiruka Onyejiocha, characterized the previous meeting as "fruitful" and a "family discussion."
NLC President Joe Ajaero confirmed that all parties engaged in open dialogue about the new wage policy but refrained from discussing specific figures.