President Bola Tinubu has directed Finance Minister Wale Edun to present a new proposed minimum wage figure within the next 48 hours. This directive aims to address the ongoing issue of establishing a new national minimum wage.

The instruction was announced by Minister of Information and National Orientation, Mohammed Idris, after a closed-door meeting between the President and key government representatives involved in wage negotiations with organized labour.

Idris explained that President Tinubu has tasked the Finance Minister with conducting a comprehensive analysis of the cost implications to determine an “affordable, sustainable, and realistic” new minimum wage within two days.

“The President has just summoned a meeting of all those who negotiated on behalf of the Federal Government, including the Secretary to the Government of the Federation, the Minister of Finance, the Minister of Information, the Minister of Budget and National Planning, the Minister of Labour, and the NNPCL GMD,” Idris stated.

“We reviewed all issues, and the President directed the Finance Minister to do the calculations and report back within 48 hours to prepare for negotiations with labour.”

He also noted the government’s challenge of balancing its commitments with economic realities. “The President is determined to follow the committee’s recommendations while considering the welfare of Nigerians,” Idris explained.

“The government supports labour discussions and wage increases but must balance pronouncements with ground realities.”

President Tinubu also instructed government representatives to collaborate with the organized private sector (OPS) and sub-national governments to develop a feasible and sustainable wage proposal for Nigerians.

The Minister of Information assured that all parties involved in the negotiations would work together with organized labour to present a new minimum wage within a week.