Discussions regarding the new minimum wage are expected to conclude today, Monday, June 10, 2024, as the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) await President Bola Ahmed Tinubu’s decision on their proposal of ₦250,000.
Last week Friday, the Tripartite Committee on National Minimum Wage wrapped up its meeting, during which the Nigerian Government and the Organised Private Sector settled on ₦62,000 as the minimum wage, while organised labour insisted on ₦250,000. According to the Nigeria Governor’s Forum, ₦60,000 is deemed unsustainable.
It was gathered that the NLC president, Joe Ajaero, and some union officials travelled to Switzerland to participate in a labour conference organised by the International Labour Organisation in Geneva, Switzerland. The decision on whether the strike will persist or not will be made upon their return.
The NLC and TUC initiated a strike last Monday and Tuesday to demand a review of the minimum wage and the reversal of the electricity tariff hike. The strike was subsequently put on hold for five days after organised Labour pledged to resume negotiations with the Federal Government and devise a new minimum wage within a week. This suspension was followed by a six-hour meeting between organised labour and the National Assembly in Abuja.
To expedite negotiations, President Tinubu instructed the Minister of Finance, Wale Edun, to present the cost implications for a new minimum wage within two days. He also directed government representatives to collaborate with the organised private sector and sub-nationals to establish a new, affordable wage for Nigerians.
Following his directive, the cost implications of implementing a new national minimum wage were presented to Tinubu at the Presidential Villa, alongside the Minister of Budget and National Planning, Atiku Bagudu, on Thursday.
