Economy

Tinubu’s government increases minimum wage offer to N60000

Published

2 months ago

May 29, 2024

President Bola Ahmed Tinubu’s government has increased the minimum wage offer to N60,0000 for Nigerian workers.

The government made the offer on Tuesday, May 28, 2024, at the Tripartite Committee meeting on Minimum Wage.

A prominent member of the committee disclosed this after the meeting saying that the Federal Government and the Organised Private Sector (OPS) side of the talks proposed a ₦60,000 monthly minimum wage on Tuesday (today) as against the ₦57,000 they proposed last week when the committee last met.

The government and the OPS had initially proposed N48,000 and N54,000 last week, which were also rejected by the Organised Labour.

The Organised Labour had also presented N615,000 as the new minimum wage but saw reasons to drop their demand to N497,000 last week and then to N494,000 on Tuesday (today).

Today’s meeting was, however, deadlocked as talks ended without an agreement on what to pay as a new minimum wage.

The Tripartite Committee for the negotiation of a new minimum wage for Nigerian workers is yet to agree on a new minimum wage just about three days before the May 31 deadline the labour unions gave to the government to conclude the negotiations.

The labour unions said the current minimum wage of ₦30,000 can no longer cater for the wellbeing of an average Nigerian worker, lamenting that not all governors are paying the current wage award which expired in April 2024, five years after the Minimum Wage Act of 2019 was signed by former President Muhammadu Buhari. The Act should be reviewed every five years to meet up with contemporary economic demands of workers.

NLC President Joe Ajaero had described as “unsubstantial”, the fresh proposals by the government. “It is still not substantial compared to what we need to make a family moving,” the labour leader had said of the current ₦30,000 wage paid to workers in the country.

“The economy of the workers is totally destroyed. In fact, the workers don’t have any economy. I think there are two economies in the country; the economy of the bourgeoisie and the economy of the workers. I think we have to harmonise this so that we can have a meeting point,” Ajaero had said.