Yesterday, President Bola Tinubu’s efforts to reach a consensus with Organised Labour on the minimum wage issue yielded no conclusive results, as talks ended without a formal agreement.
The meeting, convened at the President’s behest, ended with both parties failing to reconcile their positions.
Following the session, Labour leaders disclosed that discussions will resume next week necessitating further consultations with their constituents regarding the President’s proposals.
President Bola Tinubu reaffirmed his commitment to enhancing the welfare of Nigerian workers, acknowledging their crucial role as the driving force of the nation.
During the meeting with the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC) in Abuja, the President spoke about the importance of improved wages, safe working conditions, and a balanced approach to the minimum wage question.
According to reports on Thursday, Tinubu expressed concern for the welfare of Nigerian workers and urged realistic expectations. He also stressed the need for a pragmatic approach that considers various factors.
He suggested exploring alternatives to the traditional five-year minimum wage review cycle, such as biennial or triennial adjustments.
He said, “You have to cut your coat according to available cloth. Before we can finalize the minimum wage process, we have to look at the structure.
“Why must we adjust wages every five years? Why not two? Why not three years? What is a problem today can be eased up tomorrow? There is much dynamism to this process if we are not myopic in our approaches.
“We can take a surgical approach that is based on pragmatism and a deep understanding of all factors.”
In his remarks, NLC President Joe Ajaero stressed the need for an upward adjustment to the minimum wage, citing the difficulties faced by Nigerian workers.
He commended the President on the Supreme Court’s judgment affirming local government autonomy, a long-standing demand of the labour movement.
The TUC President Festus Osifo spoke about the impact of inflation on the naira’s value and urged the government to implement measures to address rising food and transportation costs.
