Negotiations over the new minimum wage between the Federal Government and Organised Labour are set to reach a conclusion today, as the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) leaders anticipate President Bola Tinubu’s decision on their proposed N250,000 wage offer.
Last Friday, discussions within the Tripartite Committee on National Minimum Wage culminated, resulting in an agreement between the Federal Government and the Organised Private Sector on N62,000, while Labour pushed for N250,000.
However, the Nigeria Governors Forum, in a statement, expressed concerns, stating that any wage exceeding N60,000 would not be sustainable.
Labour leaders, speaking on Sunday, highlighted that the parties await the President’s decision on the proposals put forth by the committee. Notably, NLC President Joe Ajaero and other union officials are currently attending a labour conference organized by the International Labour Organisation in Geneva, Switzerland.
“We’ve submitted the report to the President, and we’re awaiting his decision. That’s the crucial step, and that’s what everyone is anticipating,” remarked a senior NLC official, stressing the importance of caution to prevent any misinterpretation by the government.
Regarding the Monday ultimatum, another NLC source mentioned, “We’ve submitted a report to the committee, and we’re expecting the President to act on it. We’ll convene a National Executive Council meeting regarding the ultimatum upon our return from Geneva.”
Organised Labour, comprising NLC and TUC, recently staged a two-day nationwide strike demanding a new minimum wage and the rollback of electricity tariff hikes. However, the strike was suspended for five days after an agreement was reached with the Federal Government to resume negotiations.
In efforts to expedite talks, the President instructed the finance minister to present the cost implications for a new minimum wage within two days. Additionally, Tinubu urged government representatives to collaborate with the private sector and sub-national entities to determine an affordable wage.
The finance minister presented the cost implications to Tinubu on Thursday, with the President reviewing the proposal before making an official announcement.
