Tinubu Expected to Unveil Revised Minimum Wage During Workers’ Day

Indications have surfaced suggesting that President Bola Tinubu could unveil the revised minimum wage on May 1, aligning with the International Labour Day, with plans to backdate its implementation to April. The National Minimum Wage Committee aims to wrap up all negotiations before the deadline, anticipating the President’s announcement during his Workers’ Day address.

A committee member, speaking anonymously due to the sensitive nature of the matter, disclosed ongoing efforts to ensure timely resolution. The committee is scheduled to convene soon to consolidate reports from zonal public hearings and determine the path forward. Their objective is to synchronize the announcement with Workers’ Day, marking a significant step towards implementing the revised wage.

However, concerns arise regarding the impending expiration of the current N30,000 minimum wage by March 31, with negotiations yet to reach a conclusive stage. The committee emphasizes the complexity of the process, highlighting the need to aggregate inputs from various stakeholders, including labor unions, employers’ associations, and governmental bodies.

Amid these discussions, the urgency of finalizing negotiations before the April deadline is palpable. While official statements remain scarce, indications suggest a possibility of an earlier announcement, potentially preceding May 1, contingent upon the committee’s progress. The imminent challenge lies in balancing diverse perspectives and financial constraints to arrive at a mutually acceptable minimum wage arrangement.