New Minimum Wage Bill: FG moves to amend budget, minister shares why

• The federal government is expected to finalise talks with organised labour on the new minimum wage on Thursday, July 18
• FG disclosed this through the minister of information, Mohamed Idris on Monday and also announced that the minimum wage bill will be sent to the National Assembly after labour meeting with Tinubu
• A directive was given to the Minister of Budget and Economic Planning Atiku Bagudu for further action on the 2024 budget and the minimum wage bill

Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.

The Federal Executive Council (FEC) has directed Atiku Bagudu, the Minister of Budget and Economic Planning, to draft an amendment bill to the 2024 Budget, which will be presented to the National Assembly for legislation.

Tinubu and labour leaders will meet on Thursday. FG gives update on New Minimum Wage Bill. Photo credit: @DOlusegun
Source: Twitter

Minimum wage: "FG to amend 2024 budget," minister says

It was explained that the planned amendment became necessary due to new fiscal developments, including the new national minimum wage.

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The Minister of Information and National Orientation, Mohammed Idris, disclosed this to State House correspondents after President Bola Ahmed Tinubu presided over the FEC meeting at the Presidential Villa on Monday, July 15.

According to the minister, the president is expected to hold a follow up meeting with leaders of the organised labour on Thursday, July 18, after which the proposed amendment bill to the budget would be passed to the National Assembly for consideration, The Nation reported.

President Tinubu met with the leadership of the organised labour last Thursday over the minimum wage crisis.

The Tripartite Committee of the new National Minimum Wage had submitted two separate figures to the President following disagreement among the stakeholders.

The government team and the organised private sector had offered N62,000, the organised labour demanded N250,000.

But on Monday, Idris said executive bill on the new minimum wage bill will be sent to the national assembly after President Bola Tinubu meets with organised labour on Thursday, The Cable reported.

“Government has also directed the Ministry of Budget to also come up with additional support for the 2024 Budget so that any differential or any gaps that will exist in terms of what existed before the 2024 Budget was approved and the Supplementary Budget and also what the requirement is for now.“So, it is expecting that the Nigerian Labour Congress, Trade Union Congress and all their affiliates, as requested by them last week, will meet the president on Thursday and after which the President will now transmit whatever the final agreements or what his views are on the tripartite committee’s report to the National Assembly for legislation,” the minister said.

When Tinubu will announce new minimum wage

Earlier, Legit.ng reported that President Tinubu will likely announce a new national minimum wage on Thursday, July 18.

The Minister of Information and National Orientation, Mohammed Idris, dropped the hint on Monday, July 15, after Tinubu presided over the FEC meeting at the Villa in Abuja.

Amid the debate on FG's N62,000 offer to Nigerian workers and the NLC's N250,000 demand, the minister noted that the minimum wage dispute will be resolved on Thursday and an amendment bill to the budget would be forwarded to the National Assembly.

Source: Legit.ng