The Nigerian government and the organised private sector have revised their offer for the new minimum wage to N62,000, up from the previous N60,000, after extensive discussions on Friday.
In contrast, organised labour is now proposing N250,000, a departure from their earlier stance of N494,000.
This marks the conclusion of deliberations on the new minimum wage by the tripartite committee established by the Federal Government several months ago.
The recommendations will be submitted to President Tinubu, who will then present an executive bill to the National Assembly for legislative consideration.
With the work of the tripartite committee, formed in January this year, reaching its conclusion, the responsibility now shifts to President Tinubu and subsequently to the National Assembly.
Although all parties – labour, the organised private sector, and the Federal Government – acknowledge that the current minimum wage of N30,000 is insufficient given the country’s economic realities, reaching a consensus on a new figure has proven challenging.
While the government and the organized private sector deemed labor’s proposed N494,000 excessive, labour considered the offer of N60,000 inadequate.
Following the expiration of a labour ultimatum on May 31, unions commenced a strike on June 3, leading to the closure of businesses nationwide.
However, the strike was suspended on Tuesday after the Federal Government pledged to increase the minimum wage beyond N60,000, prompting a resumption of negotiations.
Despite the government and the organized private sector adding just N2,000 to the previous N60,000 offer rejected by labour, it remains uncertain whether the new proposal will be accepted, as workers had earlier vowed not to settle for minimal government concessions.
Festus Osifo, President of the Trade Union Congress (TUC), emphasised this stance during an appearance on Channels Television’s Politics Today program on Tuesday, following the suspension of the industrial action by Organised Labour, comprising the TUC and the Nigeria Labour Congress (NLC).
Regarding the possibility of labour accepting marginal increases to the last offer from the tripartite committee, Osifo stated, “No, we also told them that it’s not about adding ₦1, ₦2, ₦3,000 as you were doing,” citing assurances received during negotiations.
Meanwhile, the 36 state governors have expressed concerns that the proposed N60,000 minimum wage by the Federal Government is unsustainable and impractical, warning that many states would exhaust their monthly allocations from the federation account to meet salary obligations.
In a statement by the Acting Director of Media Affairs and Public Relations of the Forum, Mrs. Halima Ahmed, the governors urged the tripartite committee to reach an agreement on a minimum wage that is equitable and viable.
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