…President Directs Minister to Calculate Costs, Labour Issues One-Week Ultimatum
Organised Labour is considering a revised minimum wage demand of N100,000 as the Tripartite Committee on National Minimum Wage begins five days of intensive meetings to reach a consensus.
Sources within the labour movement informed on Tuesday that union leaders are prepared to lower their initial demand from N494,000 to N100,000. This decision comes in response to widespread criticism and controversy over their original proposal, which many deemed excessive and unrealistic.
In a statement released on Saturday by his media aide, Rabiu Ibrahim, Minister of Information and National Orientation Mohammed Idris highlighted the financial strain the proposed minimum wage would place on the nation. He estimated the annual expenditure at N9.5 trillion, calling it unsustainable for Nigeria’s finances.
Despite efforts from the National Assembly leadership to mediate, labour unions commenced an indefinite strike on Monday, bringing economic activities to a halt nationwide. Banks, airports, public schools, and courts were shut down, prompting the Federal Government to call an emergency meeting to resolve the crisis.
In an effort to advance the negotiations, unions announced a five-day suspension of the strike on Tuesday. This decision followed President Bola Tinubu’s commitment to a national minimum wage higher than N60,000 and the tripartite committee’s agreement to meet daily until a new minimum wage is determined.
To demonstrate his dedication to resolving the issue, President Tinubu directed Finance Minister Wale Edun to present the cost implications of a new minimum wage within two days. The directive was issued during a meeting with the government negotiation team, led by Secretary to the Government of the Federation George Akume, at the Presidential Villa in Abuja.
Speaking on condition of anonymity, a senior official from the Nigeria Labour Congress (NLC) confirmed that the unions would insist on a minimum wage of N100,000. The official emphasized that this revised figure, although not yet formally presented to the tripartite committee, reflects the union’s willingness to reach a reasonable and achievable agreement.
As the tripartite committee’s negotiations continue, all eyes are on both the government and labour unions to see if they can bridge their differences and finalize a new minimum wage that balances the needs of workers with the economic realities of the nation.
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