The eagerly anticipated announcement on the national minimum wage is expected today, Thursday, as President Bola Ahmed Tinubu convenes with organized labor at the Presidential Villa.

The ongoing discussions will see the President and labor leaders finalize negotiations on the updated minimum wage.

While the Federal Government has proposed N62,000, labor is advocating for N250,000, citing current economic conditions.

During last week’s deliberations, President Tinubu urged labor to consider existing resources and suggested revisiting the minimum wage every two to three years to prevent controversies.

Nkeiruka Onyejiocha, Minister of State for Labor and Employment, described the previous meeting as “productive” and a “family discussion.”

Joe Ajaero, President of the NLC, confirmed that all parties openly discussed the new wage policy without disclosing specific figures.

Meanwhile, President Tinubu has urged the Senate to revise the 2024 Appropriation Act to increase capital expenditure by N3.2 trillion and recurrent expenditure by N3 trillion.

In a letter addressed to Senate President Godswill Akpabio on Wednesday, Tinubu requested amendments to the 2024 Appropriation Act and the 2023 Finance Act, citing Section 58, sub-section 2 of the Nigerian Constitution (1999, as amended).

The letter states, “I am submitting the aforementioned bills for the Senate’s consideration and passage.

“The 2024 Appropriation Act Amendment Bill aims to amend the principal act to allocate N3.2 trillion for Renewed Hope infrastructure projects and other vital infrastructure initiatives nationwide.

“Additionally, N3 trillion is allocated to fulfill further recurrent expenditure requirements essential for the effective operation of Federal Government expenditure, to be funded by anticipated revenues accruing to the Federal Government.”