We are going to implement a new national Minimum wage for underpaid workers, says the President
The president has reiterated his commitment to effecting the minimum wage policy for underpaid workers this year 2024, which was previously deliberated on in 2023.
Recently, On Thursday, 2023, the Federal Government promised to implement a new minimum wage beginning April 2024.
According to the minister of information and National Orientation, Idris Mohammed, the current minimum wage of N30,000 would long be considered legally valid after the end of March 2024.
This was agreed by the federal government to reduce the impact of the removal of fuel subsidy on 29 may, 2023 and increase the minimum wage to 35000 as to encourage low-income earners.
But, before that, the National labour Congress members had been at the negotiation table to discuss the minimum wage, citing that the labour law for the underpaid workers should be reviewed every five years.
According to the NLC National President, Joe Ajaero, “it is open knowledge that the review of the national minimum wage” is something to be considered on the basis of legal review. It is a “matter of the law” which he said “is expected to happen in 2024”.
Joe Ajaero said, “Certainly, there is a new wage regime that will come in on April 1, 2024. That is why these palliatives were targeted so they would cushion economic hardship before then. In our negotiation with Labour, we said that the wage issue was not something one could just fix. A committee that will also involve Labour itself will work on it.
“The committee is being constituted and we are talking to Labour about it. And by the time this current wage regime expires by the end of March, we will expect that a new wage will begin by April. It is in this wage regime that we will now have a proper salary structure for workers across the length and breadth of Nigeria. We expect that the private sector and state governors will also do the same.”
However, in sequel to this previously established national pursuit for minimum wage increase, president Bola Tinubu reiterated his commitment during the new year speech that he would effect the law this year, 2024.
While addressing Nigerians in his new year message, he said, “We will work diligently to make sure every Nigerian feels the impact of their government. The economic aspirations and the material well-being of the poor, the most vulnerable and the working people shall not be neglected.
“It is in this spirit that we are going to implement a new national living wage for our industrious workers this new year. It is not only good economics to do this, it is also a morally and politically correct thing to do,” added Mr president.
