Labour Union’s New Proposal
In the heat of the ongoing minimum wage saga, the organised Labour is now considering a N100,000 minimum wage as the Tripartite Committee on National Minimum Wage starts daily meetings to reach a consensus. Initially, the union leaders proposed N494,000, which faced widespread criticism. Therefore, they are now willing to negotiate for a lower amount.
Government’s Response
Minister of Information and National Orientation, Mohammed Idris, revealed that the proposed minimum wage would impose an annual financial burden of N9.5 trillion on the nation. Despite intervention from the National Assembly, the labour unions went on an indefinite strike, shutting down banks, airports, public schools, and courts.
Temporary Strike Suspension
To facilitate negotiations, the unions have suspended their strike for five days. President Bola Tinubu has committed to a national minimum wage higher than N60,000. He directed the Minister of Finance, Wale Edun, to present the cost implications of the new wage within two days.
Labour Union’s Stand
A senior NLC official confirmed that the unions would insist on a N100,000 minimum wage. During the tripartite meeting, the government set the agenda for the daily discussions without mentioning any raise beyond N60,000.
TUC’s Firm Position
Trade Union Congress (TUC) President Festus Osifo stated on Channels Television that labour would not accept minor increments and emphasised the need for a realistic wage in line with current inflationary pressures. He mentioned that the new wage should match the purchasing power of N30,000 in 2019.
Presidential Commitment
Minister Idris assured that President Tinubu is committed to the welfare of Nigerians and aims to establish a sustainable and realistic minimum wage. The government, along with private sectors and sub-nationals, will work together to present a new minimum wage within a week.
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