The Federal Government and the Organized Labour on Thursday settled for N70, 000 as the new minimum wage.

The agreement was reached after the meeting between President Bola Tinubu and the leadership of the Organized Labour as well as some members of the government team on the Tripartite Committee on the new national minimum wage.

Recall that the Tripartite Committee had submitted two different figures in its report to the President as a result of the disagreement between the government, the private sector and the organized labour.

While the government and the private sector offered N62,000, the Organized Labour demanded N250,000.

Speaking to State House correspondents after the closed door meeting with the President, the Minister of Information and National Orientation, Mohammed Idris, disclosed that President Tinubu agreed to pay N70, 000 from the initial offer of N62,000.

According to him, “Today’s a happy day for Nigeria. You recall that last week we had a meeting here and the organized, private sector and the sub-nationals have also held their various meetings with Mr. President following the submission of the tripartite agreement to Mr. President.

“Labour came last week. They had meeting with Mr. President. They asked for adjournment for a week to go and consult further. They did those consultations. They have come back today and we have met with Mr. President.

“We’re happy to announce today that both the federal government and organized Labour have agreed on an increase on the N62,000. The new national minimum wage that we expect us to submit to the National Assembly for legislation is N70,000.

“But that is not all. There is also a boost like Mr. President has assured to ensuring that massive investment is going to be made in the area of infrastructure. There is also a deepening of the investment of the federal government in renewable energy.

“More money is going to go into the acquisition of more buses, the CNG buses, Nigeria is going to be more CNG compliant, according to the President.

“We’re moving in this transition to renewable and all other things that Mr. President has assured Labour the issue of ASUU (Academic Staff Union of Universities), SSANU (Senior Staff Association of Nigerian Universities) and NASU (Non-Academic Staff Union of Educational and Associated Institutions) is also going to be looked at.

“And we are happy, we are very thankful of the role that the organized labour has played today. They recognized the federal government’s role in ensuring that we have the local government autonomy, and also ensuring that both the organized Labour and the government are on the same page today.

“They have seen the magnanimity of the President and today the leadership of Laborur said they didn’t come here for negotiation, not at all, they came here in that deep sense of patriotism to ensure that Nigeria remains united, Nigeria becomes more prosperous and it is in that spirit, that they are in agreement with what the federal government has done today.

“We want to thank labour for their patriotism. We also want to thank Mr President, the federal Government, the sub-nationals and organized private sector for going through this painstaking effort but also ensuring that at the end of the day Nigeria is the winner for it all.”

Also speaking, the Minister of State for Labour and Employment, Nkeiruka Onyejeocha said that President Tinubu has always shown that he would not disappoint the country which he has exhibited.

She recall that Labour met with the President last week, and they (labour) asked that President Tinubu should give them one week to consult more.

“And of course, at the end of the day, the consultation came, very fruitful because the President said he has to be a father. That it is not the issue of the law of who is right, or who will blink the first, that he is our Father, like he has always said.

“That we should end the issue of give me N1000, add N1000 and all that. That, first and foremost, that the review of this minimum wage policy has to be reduced to three years, that five years is too long a time to get any minimum wage review that’s not very healthy.

“And as of course, that Labour should look at the indices of the economy and accept N70,000, minimum wage, and, of course, that it has to be reviewed every three, years. Not more than that, of course, so that we’re able to evaluate and see whether our economy is picking up, or whether something has to be done further, considering the sensitivity of the issue.

“And, of course, he promised and asked that the Minister of Finance and Coordinating Minister of the economy and the Minister of Budget and Economic Planning, should make sure that they go back to the books, because he has the discretion to look into the issue ot SSANU, NASU and all that, so that their money should be paid.

“And they should work out the modalities, whether it’s 50%, or whatever, but that he has given that waiver to be paid, because of course, that was an issue of ‘no work, no pay’, and that that issue has to be led to a rest.”

She said that other things were discussed and the President reassured Nigerians that he is not going to rest as he is working diligently to make sure that the economy recovers.

She appealed to the organized labour to take into considerations all the efforts of the government in trying to turn things around.

Asked to make clarification on the issue of SSANU and NASU, over the four months withheld salaries, Onyejeocha said, “That’s what he said that the Ministers of Finance and Education were there and then Budget and Economic Planning. He told them to go and work out the modalities to pay their money.”

We accept the offer with mixed feelings

On his part, the NLC president, Comrade Joe Ajaero said that the organized labour accepted the President offer of N70,000 with mixed feelings as a result of the prevailing economic circumstances.

He said, “Well, we’re here last week and we’re here now. What have been announced in terms of the amount of N70,000 happened to be where we are now. But the good thing about it is that we will not wait for another five years to come on review.

“Rather, than settling on a figure that we wait for five years, is like we’ll have to now negotiate even two times within five years, with a view to going up. That is one of the reasons you know why we decided to reach where we are today because of the proviso that ‘you can review in the next three years.

“The other one, we came with other issues in the basket, like the issue of SSANU, NASU and others, especially with the affront by the Commissioner of Police FCT, we brought it to Mr. President and talked on the need for that matter to be addressed.

“And magnanimously he asked the agencies concerned to work out the modalities for the payment of those workers in the universities.”

The NLC President said that the President promise some incentives like the CNG which will lessen the burden that the Nigerian workers are passing through, but you can see that we are taking this with mix filling because of the situation of the of the economy.

“But we have to move ahead despite the situation, and the negotiation can’t linger coming from N62,000 to N70,000 and then with the proviso that we are coming back soon to negotiate it.

“We’re taking it back to our constituency to see how they can get a buy in. So that’s what has transpired this afternoon except there’s another question.”

Also speaking, the TUC President, Comrade Festus Osifo said, ” So yes, just as been said by the three previous speakers, the Minister of Information Minister of state labour as well as the NLC President, they’ve laid the accounts of what transpired in today’s meeting.

“The President made a pronouncement or announcement of N70,000. That by next week, they should put finishing touches to the bill and do the transmission to the National Assembly.

“But why this became a catch is actually because we from the organized labour, we have been pushing that the issue of five years review is to me so much, that a lot a lot of economic indices may have changed, because we are in an era where things are moving very fast in terms of both macro, and micro economic policies.

“But with also the caveat that this is going to be done every three years. The next review will be in three years. And after that, pronouncement, we from labour just as has been said, we have received what the President has promised from both ends.

“And as he said, said, we made a case for both the SSANU and NASU, that the President should, as a father of the nation, look at it compassionately, and do the needful, so that we will not have a case where the universities would be closed again.

“That is actually a problem because it is your children, my brothers that attend these universities. I’m not sure that the kids of the bourgeoisie like those standing behind us, whether they attend these universities, we don’t know.

“So, at the end, he said he was going to look at it and that they should report back to him as has been reported. So we are quite excited with that because for us, anything that will keep the university shutdown, we will not allow it to happen. we will do everything possible to ensure that the issues are resolved amicably. So, we are waiting for the final outcome of that.

“Then also the issue of student loan as well, we commended the president for that. but we said that the money should get to the people that are targeted. that the student loan should get to the people that are targeted, not a situation where the children of the rich are also able to access the student loan.

“That the parameter be put in place so that the children of the poor, those that cannot actually afford school fees should be the target and they also said they will look at it as well.”

It will be recalled that when the Tripartite Committee met, the government team and the private sector started with the offer of N48, 000 then to N54, 000, N57, 000, N60, 000 and finally N62, 000.

On the other side, the Organized Labour started with N615,000 demand, then N500,000, to N497,000 and finally N250,000.