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    Transforming Public Sector Banking: How Dr. Okeke’s Strategic Leadership Secured a $1 Trillion Funding Pipeline and Revolutionized Financial Growth

    Transforming Public Sector Banking: How Dr. Okeke’s Strategic Leadership Secured a $1 Trillion Funding Pipeline and Revolutionized Financial Growth

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    Transforming Public Sector Banking: How Dr. Okeke’s Strategic Leadership Secured a $1 Trillion Funding Pipeline and Revolutionized Financial Growth

    Transforming Public Sector Banking: How Dr. Okeke’s Strategic Leadership Secured a $1 Trillion Funding Pipeline and Revolutionized Financial Growth

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    IGP Backs Formal Recognition Of NFSS, Seeks Presidential Ascent To Its Bill

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    Anambra Police Arrest Six for Exploiting Sick Persons as Street Beggars

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    Super Eagles Suffer Major Blow in Latest FIFA Rankings

    AFCON 2025: Super Eagles Eye Strong Finish Against Rwanda Despite Lookman’s Absence

    AFCON 2025: Super Eagles Eye Strong Finish Against Rwanda Despite Lookman’s Absence

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    Flamingos Secure Quarterfinal Spot with Last-Minute Win Over Dominican Republic at U-17 Women’s World Cup

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    Manchester United board to discuss Ten Hag’s future Tuesday

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    “Nigerians and South Africans React as Okon Wins 400m Gold for South Africa at World Championships”

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    Breaking News: Nigeria Reports 39 Mpox and 5,951 Cholera Cases

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    Tinubu congratulates UBA chair, Elumelu at 61

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Minimum wage: Labour slashes demand to N500,000

Ademola Damilola by Ademola Damilola
March 7, 2024
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Minimum wage: Labour slashes demand to N500,000
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Strong indications suggest that organized labor will advocate for a minimum wage of N500,000 as the zonal public hearings on the new wage structure kick off in Lagos, Kano, Enugu, Akwa Ibom, Adamawa, and Abuja. The President of the Nigeria Labour Congress, Joe Ajaero, had earlier hinted at the possibility of pushing for a new minimum wage of up to N1 million if inflation persisted.

An anonymous official from the NLC revealed that, based on proposals from state chapters, organized labor might propose N500,000 during the ongoing hearings. These hearings, taking place simultaneously in all six geopolitical zones, aim to gather input from various stakeholders, including labor unions, state governors, ministers, civil society groups, and the organized private sector.

The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, will oversee the South-West hearing in Lagos. The President, through his deputy, Kashim Shettima, inaugurated a 37-member panel on the new minimum wage on January 30, 2024, with a deadline to recommend a new national minimum wage before April 1.

While the tripartite committee has yet to determine a specific figure, the NLC’s demand is expected to be influenced by the rising cost of living attributed to factors such as the removal of the fuel subsidy. The state chapters of the Trade Union Congress in Ogun and Katsina have called for the minimum wage to remain on the exclusive legislative list.

In light of the economic disparities among states, some labor leaders argue for regional flexibility in allowances, emphasizing that the national minimum wage should be determined by the Federal Government. As the public hearings progress, labor leaders from various states are set to present their proposals, aligning with the national leadership’s stance. The labor bodies emphasize the importance of swift and simultaneous implementation of the new minimum wage across federal and state levels to avoid delays and ensure fair remuneration for workers.

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