By Mercy Adeshina
President Bola Tinubu is set to attend the 142nd meeting of the National Economic Council (NEC) on Thursday at the Aso Rock Villa in Abuja.
The meeting comes ahead of the preparation of the national minimum wage bill, and Tinubu’s attendance is seen as unusual. The NEC is a constitutional body that advises the President on economic matters, comprising state governors, the Central Bank Governor, and other officials.
The meeting follows the Federal Executive Council’s decision to step down the report of the Tripartite Committee on the new national minimum wage. The committee’s report recommended a new minimum wage, but the Federal Government wants to consult further with stakeholders, including state governors and the private sector.
The government has proposed a minimum wage of N62,000, while labor leaders are demanding N250,000.The NEC meeting will provide a platform for Tinubu to discuss the minimum wage issue with state governors and other stakeholders.
The government recognizes that the minimum wage affects not only the federal government but also state governments, local governments, and the private sector. Therefore, wider consultation is necessary to reach an informed position before presenting a bill to the National Assembly.
The NEC is a crucial body that coordinates economic planning efforts among various governments in the federation. Chaired by the Vice President, the council meets monthly to advise the President on economic matters. Tinubu’s attendance at the meeting underscores the importance of the minimum wage issue and the need for collaboration among stakeholders to reach a consensus.