There are strong indications that President Bola Tinubu will unveil a new minimum wage on May 1, marking International Labour Day. The announcement may include a provision to backdate the implementation to April.
According to sources cited by Punch, the National Minimum Wage Committee has been diligently working to finalize all negotiations concerning the proposed wage increase before the scheduled announcement.
A member of the committee, who requested anonymity due to the sensitivity of the matter, revealed that the committee is scheduled to convene again next week for ongoing discussions. The purpose of the meeting will be to compile and analyze reports from various zonal public hearings, providing crucial direction for the committee's further actions.
The committee's aim is to ensure that President Tinubu announces the new minimum wage by May 1, coinciding with Workers' Day, with the intention of its implementation taking effect from April. Efforts are underway to adhere to this timeline.
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