Latest News


Labour Shifts Ground on N1m Minimum Wage as Panel Meets Monday

There are indications that organized labor is willing to adjust its demand for a ₦1 million minimum wage for Nigerian workers, considering the current economic situation. This adjustment is likely to be communicated during the upcoming meeting of the tripartite committee on the minimum wage, scheduled for Monday and Tuesday. 

The meeting aims to facilitate discussions among government representatives, private sector stakeholders, and labor unions to reach an agreement on a new minimum wage before the expiration of the current ₦30,000 minimum wage on April 1.

The committee, inaugurated by President Bola Tinubu through his deputy, Kashim Shettima, is tasked with recommending a new national minimum wage. It comprises members from various sectors, including government, private industry, and organized labor. Shettima emphasized the importance of timely submission of the committee's report to ensure the emergence of a new minimum wage.

The need for a review of the minimum wage arose following the discontinuation of fuel subsidy by the government, leading to a significant increase in living costs. Despite a temporary N35,000 wage adjustment to cushion the impact, organized labor insisted on a comprehensive review of the minimum wage.

The committee, led by former Head of the Civil Service of the Federation, Bukar Aji, aims to propose a fair and sustainable minimum wage. However, there were concerns raised about the allocated funds for the committee's inauguration, with some members expressing surprise at the approved amount.

Regarding the proposed ₦1 million minimum wage, labor representatives argued that it reflects the economic realities faced by workers, especially considering the increased cost of living and inflation. They criticized the stark disparity between politicians' salaries and workers' wages, highlighting the need for a fair and justifiable minimum wage.

The Federal Government responded cautiously to the ₦1 million demand, indicating a preference to await the committee's decision. Ministers stressed the importance of considering national resources and other factors in determining a sustainable minimum wage.

Economists urged both the government and labor unions to approach negotiations with reasonableness and understanding of the current economic challenges. While acknowledging the inadequacy of the current minimum wage, they emphasized the need for compromise and dialogue to reach a feasible solution.

Overall, there is a call for the government to prioritize the welfare of Nigerian workers and address their legitimate demands for a fair and livable minimum wage.

Post a Comment