Just In : Committee on Minimum Wage adjourns sitting

…….to allow Finance Minister present template to President Tinubu

The Committee on the new National Minimum Wage has adjourned its meeting to allow the government team to provide a template as directed by President Bola Ahmed Tinubu.
A source close to the negotiations said the committee the members would reconvene today.

The compilation of the figures as directed on Tuesday by the President was part of the reasons the two Labour centres–Nigerian Labour Congress (NLC) and Trade Union Congress(TUC) called off their strike that led to a nationwide blackout on Monday.

…….to allow Finance Minister present template to President Tinubu

The Committee on the new National Minimum Wage has adjourned its meeting to allow the government team to provide a template as directed by President Bola Ahmed Tinubu.
A source close to the negotiations said the committee the members would reconvene today.

The compilation of the figures as directed on Tuesday by the President was part of the reasons the two Labour centres–Nigerian Labour Congress (NLC) and Trade Union Congress(TUC) called off their strike that led to a nationwide blackout on Monday.

Before yesterday, Labour was demanding N494,000 while the Federal Government and the organised private sector offered N60,000.

The source said: “The meeting was adjourned to give time to the Minister of Finance to meet the 48 hours deadline given to him to present cost implications to the President.

“We just discussed general things today(yesterday). We decided to give him time to carry out the directive of the President. We believe the template must have been presented to the President so that the negotiations can resume tomorrow(today).”

Yesterday, a former Director- General of the Voice of Nigeria, Osita Okechukwu, described the N494,000 demanded by Labour as ‘’unrealistic.’’

Okechukwu advised against increasing the minimum wage to a level that it could worsen the nation’s current financial challenge.