According to reports President Bola Tinubu may unveil the new minimum wage on May 1st, in conjunction with International Labour Day, potentially retroactively effective from April. The National Minimum Wage Committee is reportedly finalizing negotiations to ensure readiness for the President's announcement in his Workers' Day address.
A committee member, speaking anonymously due to the issue's sensitivity, disclosed, "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."
While the current minimum wage of N30,000 was set to expire on March 31, the committee member indicated that the new rate might not be ready by then. Negotiations are ongoing to determine an agreeable rate based on inputs from various stakeholders, including the NLC, TUC, NECA, and government representatives.
Regarding the governors' role in the process, the Nigeria Governors’ Forum had suggested that the committee consider each state's unique circumstances and the ability of both government and private sector employers to pay. However, Labour has expressed firm opposition to any delays in implementing the new wage, warning of potential industrial unrest if their demands are not met.
