• Tuesday, July 23, 2024
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BusinessDay

FEC to receive minimum wage report Tuesday, as Tinubu presides over cabinet meeting

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There are indications that the Federal Executive Council (FEC) will receive the report of the Tripartite Committee on Minimum Wage on Tuesday, baring any changes.

Recall that the decision to offer N62,000 by the federal government team at the end of the Tripartite Committee meeting on June 7, 2024, led to a split in the Committee, with the Organised Labour insisting on N250,000.

Labour insisted that it was not going back on its decision, adding that it will prevail on the President to give workers a better wage offer than what the federal government and Organised private sector are proposing.

The Committee has since submitted its reports to the office of the Secretary to the Government of the Federation for onward submission to President Bola Tinubu, who will in turn present the report to FEC.

But President Tinubu speaking at the Democracy Day dinner, had stated that his administration will ” pay only what Nigeria can afford”.

While addressing his guests at the dinner to mark Nigeria’s 25th year anniversary in Abuja, Tinubu said “the minimum wage is going to be what Nigerians can afford , what you can afford and what I can afford”.

This is as the Organised Labour has continued to insist that it will not accept a “starvation minimum wage”.

The Organised Labour, while also reacting to the President’s Democracy Day nationwide broadcast, had pleaded with the President to use his powers to give workers something higher than the N62,000 proposed by the federal government team in the tripartite Committee on Minimum Wage.

Labour also insisted that the N250,000 it has proposed remains sacrosanct.

The Council is expected to deliberate and approve a figure which will be part of the new Minimum Wage Bill to be submitted to the National Assembly as an Executive Bill, for consideration and passage.

The Minister of Justice and Attorney General of the Federation will be expected to produce a draft Bill to be taken to the National Assembly for passage.

BusinessDay gathered that the National Assembly is also awaiting the Bill which they have assured will be given accelerated passage.

The current Minimum Wage law, which came into effect in 2019, expired on April 1st, 2024.

At the Workers’ Day celebration, Nkiruka Onyejeocha, Minister of State for Labour and Employment, had vowed to ensure that the new Minimum Wage law, is backdated to take effect from the 1st of May, 2024, whenever it is passed.

The Minister had declared that the delays in reaching early agreement between the Organised Labour and the government will not affect the effective date of implementation set by the federal government.

According to the Minister, “Although the committee could not reach a consensus at its last meeting before the May deadline.

“We want to reassure Nigerian workers that we are working diligently round the clock with organised labour to conclude negotiations and ensure a successful outcome.

“Our commitment is unwavering and the Nigerian workers should rest assured that in spite of the short delay, the new minimum wage will take effect on May 1, 2024.”