Negotiations over a new national minimum wage faced a setback yesterday when the Federal Government’s negotiating team failed to present a revised offer, sticking to the previously stated ₦60,000. This development comes after President Bola Tinubu directed the Finance Minister, Wale Edun, to finalize the cost implications and submit an affordable, sustainable proposal urgently.
The President had stressed the importance of having the government’s new offer ready by Wednesday to facilitate continued negotiations with Organised Labour. His call was part of a broader effort to expedite the discussions and reach a timely agreement.
However, during the negotiation meeting that resumed at 3:30 pm on Wednesday, it became clear that the government team was unprepared to present a new proposal.
Sources close to the negotiations told Vanguard that the absence of an updated offer from the government hindered progress. One source explained, “The meeting was adjourned to give the Finance Minister time to meet the President’s deadline for presenting cost implications. We just discussed general matters, and then they (the Federal Government team) said we needed to adjourn because they needed to report back to the President.”
The source continued, “Since they hadn’t provided the President with the cost implications yet, they didn’t have anything new to present to us. Those at the meeting included the Finance Minister, the Minister of Budget and Economic Planning, and the Minister of State for Labour. We will resume negotiations tomorrow (today) at 2 pm.”
When asked if the Finance Minister had assured that the President’s mandate would be met before today’s meeting, the source replied, “They don’t have a choice. We aren’t concerned about them; they must comply with the President’s directive. If they decide to disobey the President or if the President reneges on his promise, we all understand the consequences.”