Discussions on the new minimum wage are expected to conclude today, June 10, 2024, as the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) await President Bola Ahmed Tinubu’s decision on their proposed ₦250,000 minimum wage.
Last Friday, the Tripartite Committee on National Minimum Wage concluded its meeting, where the Nigerian Government and the Organised Private Sector agreed on ₦62,000, while the organised labour maintained its demand for ₦250,000.
The Nigeria Governor’s Forum considers ₦60,000 unsustainable.
NLC President Joe Ajaero and some union officials traveled to Geneva, Switzerland, to attend a labour conference organized by the International Labour Organisation.
The decision on whether the strike will continue will be made upon their return.
The NLC and TUC initiated a strike last Monday and Tuesday, demanding a review of the minimum wage and a reversal of the electricity tariff hike.
The strike was paused for five days to allow for further negotiations with the Federal Government and to agree on a new minimum wage within a week.
This suspension followed a six-hour meeting between the organised labour and the National Assembly in Abuja.
To expedite the negotiations, President Tinubu instructed the Minister of Finance, Wale Edun, to present the cost implications of a new minimum wage within two days.
He also directed government representatives to work with the organised private sector and sub-national entities to establish a new, affordable wage for Nigerians.
The cost implications of implementing a new national minimum wage were subsequently presented to President Tinubu at the Presidential Villa on Thursday, alongside the Minister of Budget and National Planning, Atiku Bagudu.
