Minimum Wage Latest Update 2023 – Tinubu Minimum Wage Review Set to Start Soon

Minimum Wage Latest Update 2023 – Tinubu Minimum Wage Review Set to Start Soon. Here are all you need to know about the planned increase of minimum wage. The newly elected president of Nigeria, Bola Tinubu, has said the national minimum wage needs to be reviewed to reflect current realities in the country. See details…

This development comes after he announced an end to the fuel subsidy regime in the country.

According to President Tinubu, improving the livelihood of Nigerians remains a top priority of his administration.

He said;

“We need to do some arithmetic and soul-searching on the minimum wage.

“We will have to take a look at that together, and the revenue. We must strengthen the source and application of our revenue.”

Minimum Wage Latest Update

At the June NEC meeting, a sub-committee was formed to review the situation as was publicly announced, composed of governors led by Kebbi State governor with six other governors among the members. They are the governors of Anambra, Benue, Kaduna, Bauchi, Cross River and Oyo states with each representing the six geopolitical zones.

In the sub-committee are also the director-general of Budget Office of the Federation, Governor of Central Bank of Nigeria, Accountant General of the Federation and the representative of NNPCL. Others included representatives from the organised labour (TUC and NLC) and Ms. Rukayyat El-Rufai, according to a statement from the Office of the Vice President who is NEC’s chairman.

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The sub-committee at its meeting soon after the NEC last month, formed a Technical Working Group, TWG, with Governor Soludo as chairman to interrogate the issues around raising the minimum wage understanding that it is both the federal and state governments and not just the federal government that would be responsible for the payment of the new minimum wage.

Under Soludo’s leadership the TWG has met at least thrice last month; on the 24th, 27th and 30th respectively.

In one of its major resolutions the TWG resolved that negotiations with labour must be two-tracked between the federal government in one hand and the state governments in another hand.

Later this month the NEC would meet to receive the report of the sub-committee and take a final decision on the national minimum wage which would then be forwarded to the president as an advisory.

It was further gathered that what is most likely is that at the very least federal government workers would be receiving the huge minimum wage increase, while the Soludo TWG would determine the fate of the states’ workers.

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