FEC May Consider New Minimum Wage For Workers Today

The Federal Executive Council (FEC), in a crucial meeting today, plans to address several pressing issues plaguing Nigeria, which may include a special focus on the ongoing minimum wage dispute.

With the last meeting held on May 13th and 14th, the FEC meetings are now scheduled under President Bola Tinubu’s directive to convene every Monday, a change from the prior Wednesday schedule.

According to Daily Trust, the primary item on today’s agenda is the contentious minimum wage impasse involving the federal government and organized labour groups.

The Federal Government, after receiving a report from a tripartite committee recently established for this purpose, acknowledged its capacity to raise the minimum wage to ₦62,000.

However, organized labour, represented by the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC), is holding out for a ₦250,000 minimum wage.

Today’s meeting is critical, as it is anticipated to bridge the gap between the government’s proposal and labour’s demands.

The council in today’s meeting, is expected to thoroughly assess labour’s position alongside what the government can feasibly manage.

This is expected to lead to the drafting of an executive bill aimed at resolving the wage issue, which will subsequently be presented to the National Assembly.

The resolution of the minimum wage debate is of significant importance. It not only affects millions of workers but also has broader economic implications in terms of purchasing power and consumer spending.