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Tripartite committee makes Minimum Wage recommendation to President Tinubu

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The acting Minister of Labour and Employment, Hon. Nkiruika Onyejeocha has disclosed that the report of the Tripartite Committee on the new minimum wage submitted to President Bola Tinubu depicts a “balanced and realistic approach to addressing the myriad challenges faced by our workforce.”

She stated that, “These submissions are not just recommendations; they are a blueprint for actionable reforms that will drive sustainable improvements in labour conditions across the country.”

Hon. Onyejeocha disclosed this on Monday during a one-day retreat on ‘Labour reforms and the quest for living wage in Nigeria: A Focus on Legislative intervention’, organised by National Institute for Legislative and Democratic Studies (NILDS), for Chairmen and Members of joint Senate and House Committees on Employment, Labour and Productivity.

She emphasised the present administration’s resolve towards transforming the labour landscape in Nigeria, ensuring that every worker is respected, protected, and fairly compensated.

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Hon. Onyejeocha said: “The Government of Nigeria, under the leadership of President Bola Ahmed Tinubu, is unwavering in its dedication to ensuring that all workers are treated with dignity, work in safe environments, and earn a living wage. Our vision is clear: to create a labour market that is fair, equitable, and capable of sustaining the
aspirations of every Nigerian worker.

“Central to our efforts is the work of the Tripartite Committee comprising of Government, Organized Private Sector and Organized Labour, which has
diligently engaged with stakeholders on the critical issue of a New National Minimum Wage.

“The Committee’s comprehensive submissions to Mr. President reflect a balanced and realistic approach to addressing the myriad challenges faced by our workforce. These submissions are not just recommendations; they are a blueprint for actionable reforms that will drive sustainable improvements in labour conditions across the country.

“One of the key initiatives of the Federal Ministry of Labour and Employment is the Labour and Employment Empowerment Program (LEEP). LEEP embodies our holistic approach to labour reform, with a specific pillar dedicated to labour reforms and labour compliance enhancement.

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“This initiative aims to ensure that employers adhere strictly to the highest standards of occupational health and safety. By fostering a culture of compliance, we are not only protecting workers but also promoting a business environment that is conducive to productivity and growth.

“As we embark on these reforms, we are particularly focused on factories and industrial parks. These areas are critical to our industrial strategy and the well-being of thousands of workers. Our plan is to rigorously enforce safety standards and ensure that employers provide safe and healthy working conditions. This is not just about compliance; it is about creating workplaces where workers can thrive without fear of injury or exploitation.”

While acknowledging the role of legislative intervention, Hon. Onyejeocha underscored the need for the standing Committees saddled with the responsibility of legislative oversight and indeed the Parliament, to enact “laws that protect and empower workers are vital to the success of our reform agenda. Together, and as your colleague, we can do more and indeed, build a legal framework that supports our vision for a just and equitable labour market.

“Let us come together to sponsor and pass bills that reflects the yearnings of our labour force across all sectors. Let us indeed create laws and policies that not only foster productivity and growth amongst our workforce, but also commensurably punish offenders and violators of labour laws. This is the only pathway to true reform!

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“In closing, I would like to reaffirm the Government’s unwavering commitment to labour reforms and the living wage. We are on a path to transforming the labour landscape in Nigeria, ensuring that every worker is respected, protected, and fairly compensated. This is our promise to the Nigerian people, and with your continued support, we will achieve it.”

Meanwhile, the NILDS Director General, Professor Olanrewaju Sulaiman who observed that the industrial relations atmosphere in Nigeria has been characterized by industrial disputes such as strikes, lockouts, and work stoppages, lamented that the situation “has a serious impact on worker productivity and national development, as no nation can develop in an atmosphere of crisis and work stoppages.

“This situation is further compounded by the recent harsh economic conditions of workers, which have been affected by many factors including inflation and high costs of living that have eroded workers’ welfare and weakened living standards. This situation calls for a review of the national minimum wage to ensure that workers’ conditions are improved following present-day realities.

“In the quest for a realistic national minimum wage, the Federal Government of Nigeria has constituted a tripartite national minimum wage negotiation committee, which is expected to come up with a realistic minimum wage rate that will improve the living conditions of Nigerian workers and motivate them for higher productivity.

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“Indeed, any agreement reached by the tripartite negotiation committee must be submitted to the legislature for enactment. It is therefore imperative for the legislature to understand the processes of the minimum wage and its implications for worker welfare, economic growth, and the national development of the nation.

“The legislature must also have a holistic view of the environment under which labour administration is carried out in the country.

“It is in recognition of this fact that NILDS has organized this one-day national retreat. The retreat is most relevant as part of the NILDS contribution to the ongoing quest for a sustainable living wage that is capable of supporting the renewed Hope Agenda of President Bola Tinubu’s administration in Nigeria.

“In addition, this retreat is also relevant because the issue of the national minimum wage is on the exclusive list that can only be legislated upon by the National Assembly. The platform offered by this seminar will therefore equip members of the Committees and other stakeholders here present to share experiences that will culminate into a robust legislative intervention in the labour reform process.”

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Brain Drain, Infrastructure, Resource Allocation Challenges Of Health Sector – Reps

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By Gloria Ikibah
The House of Representatives has highlighted the detrimental impact of the mass migration of health workers from Nigeria, describing it as a major challenge to the country’s healthcare system.
The Chairman, House Committee on Health Institutions,  Rep. Amos Magaji, stated this during a public hearing on 16 bills aimed at establishing various health institutions, on Thursday in Abuja.
Rep. Magaji underscored the need for better distribution of healthcare facilities, particularly in rural areas, to address population growth and healthcare gaps.
He noted, “Recently, there has been an enormous migration of doctors, nurses, and other health workers in search of ‘greener pastures,’ leaving Nigeria’s health sector severely understaffed. To improve the sector, we must invest in human resources, medical intelligence, and the administrative appointment of capable persons based on merit.”
The Chairman also brought to light the infrastructural deficiencies in healthcare institutions across the country, citing inadequate funding, lack of maintenance, and insufficient equipment as recurring issues.
The Minister of Health, Prof. Mohammed Ali Pate, represented by Dr. Jimoh Olawale Salahudeen, in his submission warned against the duplication of health institutions, and stated that such efforts would strain the already scarce resources.
He explained, “Existing Federal Teaching Hospitals and Medical Centers in Nigeria, including those in the North West, already provide cardiovascular care and related services. Establishing a new institute would add financial burden without addressing the core issues.”
Pate also acknowledged the migration of health workers and the need for a stronger workforce to handle emerging health challenges.
“The Federal Ministry of Health supports the establishment of new institutions but insists on considering geographical spread, population density, and disease burden in proposed locations,” he added.
The hearing emphasised the need for balanced development in the healthcare sector, adequate funding for existing institutions, and policies to retain health professionals in Nigeria.
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Access Bank (UK) Limited to Acquire AfrAsia Bank Limited

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By Gloria Ikibah
Access Holdings PLC has announced that its subsidiary, The Access Bank UK Limited (“Access UK”), has signed a binding agreement to acquire a majority stake in AfrAsia Bank Limited, the third-largest bank in Mauritius by total assets.
Mauritius, known for its strong financial sector, which contributes 13.4 per cent to its GDP, offers Access UK a strategic base to grow its personal and corporate banking services.
This was contained in a statement by its Company Secretary, Sunday Ekwochi, made available to Naijablitznews.com on Thursday.
According to Ekwochi, the acquisition will also position Mauritius as a hub for Access Bank’s trade finance operations, enhancing its ability to manage cross-border transactions across Africa and internationally.
AfrAsia Bank, as of June 30, 2024, reported total assets of over $5.7 billion and a net profit after tax of $152.4 million, underlining its solid financial position.
**Key statements on the acquisition:**
– Managing Director/CEO of Access Bank Plc, Roosevelt Ogbonna, speaking on the acquisition said:  “This acquisition is a crucial step in our African growth strategy, strengthening our position as a top Pan-African financial institution. Mauritius’ role as a financial hub aligns with our vision to unlock opportunities that drive trade, support businesses, and promote economic inclusion across the region.”
Also Managing Director of Access Bank UK, Jamie Simmonds, stated: “AfrAsia Bank’s strong balance sheet and established brand in Mauritius give us a solid platform for sustainable growth. This deal supports our strategy to diversify earnings and provide clients with seamless access to global markets.”
Access Bank UK aims to promote sustainable growth, deliver innovative financial solutions, and support trade between Africa and the world.
The acquisition process will be finalized in the coming months, with updates provided as needed.
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FEC approves ₦47.9tn 2025 budget

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By Kayode Sanni-Arewa

The Federal Executive Council, FEC, has approved a proposed national budget of ₦47.9 trillion for the 2025 fiscal year.

Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this on Thursday while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu.

This was part of the Medium-Term Expenditures Framework, MTEF, for 2025 to 2027 and in line with the Fiscal Responsibility Act of 2007.

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“And equally, the fiscal objectives were conservative, because we want to ensure that we study the course much as we believe the projections will be exceeded.

“The budget size that was approved for presentation to the National Assembly in the MTEP is ₦47.9 trillion, with new borrowings of ₦9.2 trillion to finance the budget deficit in 2025,” Bagudu said.

“We need to sustain the market deregulation, commendable market deregulation of petroleum prices and exchange rate, and to compel the Nigerian National Petroleum Corporation Limited to lower its oil and gas production cost significantly, and even to consider the need to amend the relevant sections of the petroleum industry act 2021 to address the significant risk to Federation.

“The Federal Executive Council approved the Medium Term Expenditure Framework and the physical strategy paper, and it will be submitted to the National Assembly.

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“This is in addition to bills that are already at the National Assembly, the economic stabilization bills and tax reform bills, which we believe we will have a very, very strong growth in 2025.”

During the meeting, the FEC approved its submission to the National Assembly as required by the 2007 Fiscal Responsibility Act.

The framework projected a gross domestic product (GDP) growth rate of 4.6 percent, an exchange rate of $75 to the naira, and oil production of 2.06 million barrels per day. [Channels TV]

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