President Bola Tinubu met with state governors and ministers on Thursday, June 27, 2024, to discuss the new national minimum wage and other economic issues. The meeting took place during the 142nd National Economic Council (NEC) meeting, which was chaired by the Vice President until the appearance of President Tinubu.
The President stepped in to further consult with state governors and the private sector on the minimum wage, after the Federal Executive Council deferred a decision on the matter. The tripartite committee had recommended a minimum wage of N62,000, but labor unions have insisted on N250,000, while some governors argued they could only sustain up to N60,000.
In addition to the minimum wage, the governors also discussed issues like local government autonomy, excess crude account, royalties, and debt matters. The meeting was seen as an important step by the President to reach a consensus with state governments on these critical economic policies.
Thursday’s meeting, according to a Channels Television report, comes about two days after the Federal Executive Council (FEC) stepped down a minimum wage review memo to allow for more consultations.
The report states that on Wednesday, governors under the aegis of the Nigeria Governors’ Forum (NGF) met in Abuja and assured Nigerians that ongoing negotiations between the government, private sector and organised labour would produce better wages.
The President had in his Democracy Day speech on June 12, 2024 assured the Organised Labour that an executive bill on the new national minimum wage for workers would soon be sent to the National Assembly for passage.
The President is expected to make a decision on the ₦62,000 proposal of the government and private sector side; and Labour’s ₦250,000 demand.
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