National Assembly Expected to Approve N70,000 Minimum Wage, Exceeding FG's Proposal

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Abuja: The National Assembly is on the verge of approving a new minimum wage of N70,000, surpassing the N62,000 initially proposed by the federal government.


Recent developments indicate that the ongoing minimum wage negotiations involving organized labour, the federal government, states, and local governments may conclude with a compromise deal set at N70,000. An insider source informed THISDAY that President Bola Tinubu plans to send an executive bill to the National Assembly shortly, as the tripartite committee recommended a minimum wage of N62,000.


However, there are strong indications that the National Assembly might increase the proposed amount to N70,000, echoing a similar scenario that occurred in 2018 and 2019. Back then, the federal government proposed a minimum wage of N23,000, but the National Assembly raised it to N30,000.


A member of the tripartite committee, speaking anonymously, explained, “This was exactly the situation that played out in 2018 and 2019. The federal government sent a minimum wage bill recommending a minimum wage of N23,000, but the National Assembly increased it to N30,000.”


The source added, “When the National Assembly gets the minimum wage bill, it is likely to increase the amount to N70,000 to demonstrate empathy with the public and acknowledge the economic realities. Though some states will insist they cannot pay, the federal government will likely persuade them to comply, possibly offering bailouts to initiate payment.”


The push for a higher minimum wage has been influenced by Edo State’s decision to start paying N70,000, setting a precedent that has swayed federal negotiators and National Assembly leaders. Additionally, some governors are advocating for a new revenue-sharing formula to accommodate the new minimum wage and the consequential adjustments that will follow.


Despite these efforts, the Nigeria Governors Forum (NGF) has expressed concerns about the sustainability of the proposed wage increase. About two weeks ago, the NGF emphasized that a N60,000 minimum wage was not feasible. NGF’s acting Director of Media and Public Affairs, Hajiya Halimah Salihu Ahmed, highlighted the importance of considering the financial implications for all cadres, including pensioners, before finalizing any agreement.


Ahmed stated, “The forum urges all parties to look beyond signing a document for the sake of it. Any agreement should be sustainable and realistic.”


As the discussions progress, it remains to be seen how the federal government and the National Assembly will navigate these economic and political challenges to implement a new minimum wage that addresses the needs of workers while ensuring fiscal responsibility.

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