The negotiations for the new minimum wage between the Federal Government and Organized Labour are set to conclude on Monday (today) as the leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) await President Bola Tinubu’s decision on their N250,000 proposal.

The labour leaders had set a deadline for Monday to finalise the discussions on the new minimum wage. Last Friday, the Tripartite Committee on National Minimum Wage wrapped up its meetings where the Federal Government and the Organized Private Sector agreed on N62,000, while Labour pushed for N250,000. However, the Nigeria Governors Forum stated that any minimum wage above N60,000 would be unsustainable.

Speaking anonymously for security reasons, Labour leaders indicated that they are waiting for the President's decision on the committee's proposals. NLC President Joe Ajaero and other union officials have left for a labour conference organized by the International Labour Organisation in Geneva, Switzerland. Based on the President's feedback, they plan to hold a National Executive Council (NEC) meeting upon their return to decide on further actions, including a potential strike.

A top NLC official mentioned, “We have submitted the report to the president and are waiting for his decision. That is the most important thing, and that is what we are all waiting for. As it stands, some of us are on our way to Geneva for the ILO conference.”

Another source within the NLC confirmed the report's submission and the anticipation of the President's action. They highlighted the importance of the NEC meeting to address the ultimatum once they return from Geneva.

Last Monday and Tuesday, Organized Labour, including the NLC and TUC, conducted a two-day nationwide strike to demand a new minimum wage and the reversal of the electricity tariff hike. The strike was suspended for five days after a commitment from the Federal Government to resume negotiations and establish a new minimum wage within a week. This followed a six-hour meeting between labour leaders and the National Assembly.

To expedite the process, President Tinubu instructed Finance Minister Wale Edun to present the cost implications for a new minimum wage within two days. On Thursday, Edun, alongside the Minister of Budget and National Planning, Atiku Bagudu, presented these cost implications to the President at the Presidential Villa. Tinubu also directed government representatives to collaborate with the organized private sector and sub-nationals to achieve an affordable new wage for Nigerians.