Stalled Minimum Wage Talks: FG Fails to Present New Offer

 

Negotiations over the new minimum wage have hit a standstill due to the Federal Government's failure to present a fresh offer beyond the previously proposed ₦60,000. President Bola Tinubu had instructed the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to prepare the cost implications of a new minimum wage and present an affordable, sustainable, and realistic figure by yesterday. This directive aimed to provide a basis for further negotiations with the Labour unions.

 

Despite the President's mandate, the resumed negotiation meeting at 3:30 pm yesterday saw little progress. According to sources, the Federal Government team did not present a new offer as they had not yet provided the President with the required cost implications.

 

A source at the meeting stated, "The meeting was adjourned to give the Minister of Finance time to meet the deadline given by the President. We just deliberated generally and then they said we needed to adjourn because they needed to get to the President. We will be resuming negotiations tomorrow (today) at 2 pm."

 

When asked if the Finance Minister assured that the President’s mandate would be met before today's meeting, the source added, "They do not have a choice. We are not bothered about them. They cannot disobey the President. If they decide to disobey the President or if the President reneges on his promise, we all know the consequences."

 

Regarding Monday's meeting with the Secretary to the Government of the Federation (SGF), the source noted, "They said they had the President's mandate to conclude negotiations within one week. Even as we went on strike, the intention was not to destroy the system but to push them to make promises. We are aware that further adverse actions could worsen the economy. We are conscious of our responsibility to avoid throwing the baby out with the bathwater. The goal is to push the government until we extract the maximum benefit for the workers."

 

The stalemate continues as all eyes turn to today's meeting, where the hope is that the government will present a viable new offer to move the negotiations forward.