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Indications have emerged that President Bola Tinubu may announce the new minimum wage on May 1 in commemoration of the International Labour Day and backdate its implementation to April.
Saturday PUNCH gathered that the National Minimum Wage Committee was working to ensure that all negotiations regarding the new rate were finalised before then with the expectation that the President would announce the new minimum wage in his Workers’ Day address.
A member of the committee, who spoke to Saturday PUNCH on condition of anonymity because of the sensitive nature of the issue, said, “By next week, the minimum wage committee will meet again. It’s a continuous meeting. That is a meeting where all the reports from the zonal public hearings will be collated and reported, and then, you know, that will also give the committee the direction to work with.
“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.”
When reminded that the current minimum wage of N30,000 would cease to be valid on March 31, the committee member said it was unlikely that the new rate would be ready before then, adding that there was still a long way to go in arriving at an acceptable minimum wage for the country.