Labour reduces minimum wage to N250,000 as Govt proposes N62,000

The Organised Labour has stepped down their proposals of the monthly national minimum wage to N250,000.

The Government and the Organised Private Sector have also stepped up their proposals to N62,000 monthly.

This comes after a Tripartite Committee on Minimum Wage meeting held on Friday night, 7th June 2024.

Recall that the Organised Labour had earlier proposed N600,000 as the new minimum wage. It then reduced it to N494,000 and later went on strike.

The Federal Government on the other hand first offered N48,000, then N57,000 before stepping up to N60,000.

Speaking after the meeting, Governor Hope Uzodinma of Imo State said the Organised Private Sector agreed on N62,000, adding that the committee will soon reach an agreement for a new national minimum wage.

According to him, The committee has worked so hard and has reached an agreement. In the wisdom of the tripartite committee, it put together a recommendation for Mr President for further action.

“The Organised Private Sector and the Federal Government agreed on N62,000 while the Organised Labour is still asking for N250,000.

“We are talking and we hope the atmosphere of hostility pervading the country will be relaxed.”

“Once we convene for the plenary session, we anticipate finalising our discussions and arriving at a complete agreement. At that point, the media will be briefed accordingly. Overall, I am optimistic about our progress.”

Hon. Nkeiruka Onyejeocha, Minister of State for Labour and Employment, said the Tripartite Committee on Minimum Wage took into account the concerns and inputs of all stakeholders.

“Following a thorough examination of the proposals, considering both affordability and sustainability, the committee came up with recommendations for a new minimum wage. These recommendations by both the Government, the Organised Private sector and the Organised Labour will be transmitted to President Bola Ahmed Tinubu for consideration.”

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On his part, Comrade Engr. Festus Osifo, President of the Trade Union Congress (TUC) rejected the government offer, insisting that N250,000 was in tandem with the current hardship and difficulty in the land.

According to Osifo, “As we are currently, the Organised Private Sector and the Federal Government have recommended N62,000 as the minimum wage but we felt that with the hardship and prevailing difficulty in the country, N250,000 is what is okay for us.”