Shettima inaugurates National Minimum Wage committee

Nigeria’s long-awaited journey towards a revised national minimum wage took a significant step forward on Tuesday with the inauguration of a 37-member tripartite committee by Vice President Kashim Shettima at the State House in Abuja.

Composed of representatives from the federal and state governments, the private sector, and organized labor, the committee marks a crucial stage in the process of determining a new wage floor for the country’s workforce. Its mandate is clear: to analyze economic realities, stakeholder concerns, and international best practices before delivering a concrete recommendation for a new minimum wage.

In his opening address, Shettima urged members to “speedily” arrive at a resolution and submit their reports early as the current N30,000 minimum wage expires at the end of March 2024.

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“This timely submission is crucial to ensure the emergence of a new minimum wage,” Shettima said.

The current minimum wage of N30,000, established in 2019, has been under intense scrutiny in recent years due to rising inflation and a general decline in purchasing power. While worker unions have consistently advocated for a significant increase, employers have expressed anxieties about the potential impact on business sustainability.

This diverse yet crucial committee now faces the challenging task of navigating these competing interests and arriving at a consensus that balances the needs of both workers and employers. Key issues likely to be on the table include regional variations in living costs, sectoral considerations, and the overall health of the national economy.

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