The Federal Government and Organized Labour have postponed the minimum wage discussions to today, awaiting the Finance Minister Wale Edun's submission of a salary template to President Bola Tinubu. The Tripartite Committee on National Minimum Wage halted the session to incorporate the minister's cost implications for a new minimum wage, as directed by Tinubu.
During a Tuesday meeting with the government negotiation team led by Secretary to the Government of the Federation, George Akume, Tinubu ordered the finance minister to deliver the cost analysis within two days. Labour union sources mentioned the committee agreed to delay further negotiations until the presidential template is available.
A committee member noted, “The meeting has been rescheduled for Thursday at 2 p.m. We understand the president's directive and are giving the minister time to prepare.”
The Minister of Information and National Orientation, Mohammed Idris, confirmed that the president wants the financial implications of the new minimum wage within 48 hours. He assured journalists of the president's commitment to balancing government promises with practical realities and emphasized collaboration with the private sector and sub-nationals to establish a sustainable new wage.
Despite efforts to mediate, labour unions initiated a nationwide strike on Monday and Tuesday, disrupting economic activities. The strike led to the closure of banks, airports, schools, and courts, prompting the Federal Government to call an emergency meeting.
Following negotiations involving key government officials and labour leaders, the unions suspended the strike for five days after Tinubu agreed to a national minimum wage above N60,000. The tripartite committee is set to meet daily until a new minimum wage is finalized.
Trade Union Congress President Festus Osifo expressed readiness to compromise, aiming for a wage that matches the purchasing power of N30,000 in 2019 and N18,000 in 2014.
Airlines reported significant revenue losses due to the strike, with United Nigeria Airlines and Ibom Air detailing financial impacts and the logistical challenges of rescheduling flights. The broader aviation industry, including airport terminals and taxi services, also faced substantial economic setbacks.
Debo Adeniran, Executive Director of the Centre for Anti-Corruption and Open Leadership, urged swift finalization of the minimum wage talks, while Auwal Rafsanjani from the Civil Society Legislative Advocacy Centre called for honesty and realism in the negotiations.
