The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) on Tuesday 4th of June, suspended their industrial action – over a lack of consensus on a new minimum wage and the hike in electricity tariff – for one week.
This came after the Secretary to the government of the federation, George Akume, after a marathon meeting with the organized Labour, disclosed that the Federal Government is committed to a national minimum wage above ₦60,000.
The SGF offered that the Organized Labor meet a tripartite committee where the real amount will be discussed and disclosed
In a swift reaction, President Bola Tinubu gave a marching order to the finance minister, Wale Edun, to present a new wage template.
Underforty-eightt hours, Wale Edun, minister of finance and coordinating minister of the economy, submitted new national minimum wage options and projected cost implications to President Bola Tinubu.
Immediately after the minister of finance submitted the projected cost implications, news filtered in that the minister submitted a proposal of N105,000 to the president as the new minimum wage, but it was later dispelled.
After several hours of negotiations between the federal government and the organized private sector, it increased their offer for the new minimum wage to #62, 0000, up from the previous #60, 000.
However, organized Labor rejected federal governments offer of #60, 000 and proposed #250, 000, a significant decrease from its initial demand of #494, 000.
This marks the conclusion of the deliberations on the new minimum wage by the tripartite committee, which was established by the federal government after several months of discussion.
Meanwhile, the 36 state governors have expressed that the #60,000 minimum wage proposal by the federal government is unsustainable, and they rejected it, saying they don’t have the resources to pay it.
As the one week deadline of the suspended industrial action by the Organised Labour Expires on Tuesday 11th, June, 2024, the question is will Labour pick it’s strike from the shelf or dance to the federal government rhymes.
