he Nigeria Labour Congress (NLC) has announced its intention to advocate for a minimum wage of N250,000 during an upcoming meeting with President Bola Tinubu at the State House in Abuja. Benson Upah, Head of Public Affairs for the NLC, emphasized that despite rising costs of living, the proposed increase to N250,000 is both reasonable and reflective of current economic conditions.
The meeting, scheduled for today, follows President Tinubu’s pledge to engage further with stakeholders regarding the minimum wage. This commitment was reiterated in his Democracy Day speech on June 12, 2024, where he announced plans to send an executive bill to the National Assembly for the new national minimum wage.
Earlier discussions within the Federal Executive Council, chaired by President Tinubu, had considered a recommendation of N62,000 as the new minimum wage based on submissions from federal, state governments, and the Organised Private Sector (OPS). However, Labour, citing inflationary pressures exacerbated by policy changes like petrol subsidy removal and forex unification, proposed N250,000, arguing that the current N30,000 minimum wage is no longer sustainable.
Efforts to reach a consensus have been ongoing, with labour unions previously declaring an indefinite industrial action on June 3, which was later suspended after government assurances of a potential wage increase. The tripartite committee, established by President Tinubu in January to negotiate the new minimum wage, includes representatives from Organised Labour, federal and state governments, and the OPS.
As discussions continue, the outcome of today’s meeting between NLC leaders and President Tinubu is eagerly anticipated, particularly in light of ongoing economic challenges and the need for a sustainable wage structure that supports workers across Nigeria.
