President Bola Tinubu may announce the new minimum wage on May 1 in commemoration of the International Labour Day, according to findings by one of Nigerian national dailies, The PUNCH.
It was gathered that all hands are currently on deck to ensure all negotiations regarding the new wage were sorted before the date.
“By next week, the minimum wage committee will meet again. It’s a continuous meeting. That is a meeting where all the reports from the zonal public hearings will be collated and reported, and then, you know, that will also give the committee the direction to work with,” said a source according to reports.
“Our target is to ensure that Mr President announces the minimum wage by the 1st of May, which is the Workers’ Day, for it to take effect from April. So, we are working to meet the timeline.”
Under the law, the current minimum wage of ₦30,000 would cease to be valid on March 31.
Regards the validity of the current wage, the source said “We have not got to the negotiation point yet. When you finish with the zones, it is the aggregate of what you collect from the zones that will determine the direction of the main committee. Now that we have finished with the zones, when the committee meets, it will collate all the positions of the zones and committee members.
“The positions of the NLC, TUC, NECA (the Nigeria Employers Consultative Association) and the government will be looked at. Then, we will look at the aggregate, find a percentage, and arrive at what will be agreeable.
“We are going to make some adjustments. I am sure the committee will also have a private meeting with Mr President; they will look at the ability to pay, and then with the state governors. NECA will also be involved and we will see how we marry those angles. It is not a one-stop affair.”