Tinubu May Announce New minimum Wage On Workers’ Day

President Bola Tinubu may announce new wage on May 1, backdating it to April.
National Minimum Wage Committee aims to finalize negotiations before May 1 deadline.
Concerns arise as current minimum wage expires on March 31, but agreement unlikely by then.

EKO HOT BLOG reports that there are indications that President Bola Tinubu might unveil the new minimum wage on May 1, in commemoration of International Labour Day, and backdate its implementation to April.

According to Punch, the National Minimum Wage Committee is working to finalize all negotiations regarding the new rate before then, with the expectation that the President will announce it during his Workers’ Day address.

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A committee member, speaking anonymously due to the sensitivity of the issue, stated,

“Our target is to ensure that Mr. President announces the minimum wage by the 1st of May, which is the Workers’ Day, for it to take effect from April. So, we are working to meet the timeline.”

However, concerns arise as the current minimum wage of N30,000 expires on March 31. The committee member indicated that it’s unlikely the new rate will be ready before then, emphasizing that there’s still a long way to go in reaching an acceptable minimum wage agreement.

The committee aims to collate reports from zonal public hearings and consider positions from various stakeholders, including the NLC, TUC, NECA, and the government, to determine an agreeable percentage adjustment.