President Bola Tinubu has proposed adjusting wages at shorter intervals of two or three years, instead of the current five-year period, to better address the welfare of Nigerian workers.
This suggestion was made during a meeting with organized labour representatives at the State House, which included the Secretary to the Government of the Federation, several ministers, heads of agencies, and presidential aides.
President Tinubu emphasized the importance of realistic expectations regarding the minimum wage, stressing the need for a pragmatic and thorough approach to wage adjustments. “A happy worker is a productive worker, and society depends on the productivity of the happy worker,” he said. “Before we can finalize the minimum wage process, we have to look at the structure. Why must we adjust wages every five years? Why not two? Why not three years?”
The meeting was part of the president’s ongoing engagement with stakeholders before making a definitive decision on the minimum wage issue. President Tinubu underscored the importance of addressing current economic challenges, noting that “what is a problem today can be eased up tomorrow” through a careful and pragmatic approach.
Various stakeholders shared their perspectives on the economic difficulties affecting Nigerian workers. The President of the Trade Union Congress, Festus Osifo, highlighted the impact of the eroding value of the Naira on the prices of commodities and goods in the market. “As has been said in the meeting, we try to put issues on the table, issues that are biting Nigerians, the economic difficulties, and how the value of the Naira has also eroded,” Osifo stated.
The discussions are part of a broader effort to address the economic challenges facing Nigeria and to ensure that wage adjustments are more responsive to the needs of workers.
