President Bola Tinubu will meet with labor leaders to finalize discussions on a new minimum wage, while the Association of Local Government of Nigeria seeks revised revenue formulas for local governments.
Eko Hot Blog reports that President Bola Tinubu is set to meet with labor leaders on Thursday to finalize discussions on a new minimum wage. Concurrently, the Association of Local Government of Nigeria has called for a revised revenue formula favoring the country’s 774 local government areas.
Minister of Information and National Orientation, Mohammed Idris, announced on Monday, after the 15th Federal Executive Council meeting at the State House in Abuja, that Tinubu would continue consultations with labor leaders in a follow-up meeting.
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Following an agreement on the new minimum wage, an amendment bill will be sent to the National Assembly.
A previous meeting held last Thursday between the President and labor leaders did not yield a conclusive figure for the new minimum wage, leading to the adjournment of the session until this Thursday.
The Tripartite Committee on the New National Minimum Wage submitted two different figures to the President due to disagreements among stakeholders. The government and the organized private sector proposed N62,000, while Organized Labour demanded N250,000.
Upon receiving the committee’s report, President Tinubu requested additional time to engage with relevant stakeholders to reconcile the figures before submitting an executive bill to the National Assembly.
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Briefing journalists at the end of the FEC meeting, the information minister said, “The government has directed the Ministry of Budget to also come up with additional support for the 2024 Budget so that any differential or any gaps that will exist in terms of what existed before the 2024 Budget was approved and the Supplementary Budget and also what the requirement is for now.
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