- FG, Labour Agree On ₦70,000 Minimum Wage
- Why We Accepted FG’s N70k Offer- Organised Labour
- ‘Wage To Be Reviewed Every Three Years’- FG, Labour
It was a long-fought battle but the swords were finally sheathed on Thursday, July 18, 2024 as the Federal Government of Nigeria and Organized Labour finally agreed on a new minimum wage for Nigerian workers.
While the organized Labour comprising the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and other affiliated bodies have insisted on N250, 000, at the end of negotiation on Thursday, FG was able to convince labour to accept N70,000 as the new minimum wage.
Rising from the meeting on Thursday, the Minister of Information Mohammed Idris informed Nigerians that the Federal Government and the leadership of the Organised Labour have agreed on ₦70,000 as the new minimum wage for Nigerian workers.
The minister said the agreement was reached at a meeting between President Bola Tinubu and the leaders of the labour on Thursday in Abuja.
“We are happy to announce today (Thursday) that both the Organised Labour and the Federal Government have agreed on an increase on the N62,000 minimum wage.
“The new national minimum that Mr President is expected to submit to the National Assembly is ₦70,000,” an elated Idris told State House correspondents.
READ ALSO: NLC,TUC Call Off Strike
On her part, Minister of State for Labour Nkiruka Onyejeocha said Tinubu had also directed the Ministers of Finance and Budget, Wale Edun and Atiku Bagudu, respectively, to work out modalities on how to settle the issues with the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU).
Onyejeocha added that the parties agreed that the time limit of five years for review is too long.
Reacting to the development, NLC President, Joe Ajaero explained why the organised labour accepted President Tinubu’s offer.
Ajaero, who also spoke to State House correspondents after the meeting with Tinubu, said the unions agreed to the offer because of other incentives attached.
He said another reason the labour accepted the offer was because the president promised a review every three years as against what obtained in the past.
Ajaero said the Organised Labour would consult with their members on the ₦70,000 benchmark.
“We were here last week. And we are here now. What they have announced in terms of the amount of ₦70,000 happens to be where we are now. But the thing about it is that we will not wait for another five years to come and agree”.
“We are taking this with mixed feelings because of the situation of the economy” Ajaero said.
READ ALSO: NLC, TUC Threaten To Shut Down Dams Over Electricity Tariff Hike
Osifo said the president promised that the minimum wage bill would be transmitted to the national assembly next week.
With this agreement, the long-drawn saga of new minimum wage can now be laid to rest after months of failed talks between labour organs and a tripartite committee on minimum wage constituted by the President in January.
The federal government had proposed a minimum wage of N48,000, N54,000, and most recently, N62,000.
However, the labour unions insisted on N250,000 as the living wage coming down from their initial N615, 000 and N494, 000 demands.
Labour had said ₦30,000 was unsustainable for any worker going by the economic vagaries of inflation and high cost of living which followed the removal of petrol subsidy by the President.
