NLC May Consider N100,000 as New Minimum Wage

NLC May Consider N100,000 as New Minimum Wage.

The Nigerian Labour Congress (NLC) is reportedly reconsidering its stance on the proposed minimum wage with a potential shift from its initial demand of N494,000 to a more moderate N100,000.

This move comes amidst intense scrutiny and controversy surrounding the union’s initial proposal, widely criticized as unrealistic and financially burdensome for the nation.

Sources within the labour movement have indicated that union leaders are willing to review their demands in light of the ongoing negotiations within the Tripartite Committee on National Minimum Wage. These discussions, scheduled to occur over five consecutive days, aim to reach a consensus that balances the interests of workers, employers, and the broader economy.

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The proposal for a N100,000 minimum wage has not been without its detractors. Minister of Information and National Orientation, Mohammed Idris, expressed concerns about the financial implications, stating that such a wage would result in an annual expenditure of N9.5 trillion—an unsustainable burden on the nation’s finances.

The standoff between organised labour and the government reached a critical point earlier this week when the NLC embarked on an indefinite strike, paralyzing economic activities nationwide. Banks, airports, public schools, and courts were all affected, prompting the Federal Government to convene emergency meetings to address the impasse.

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In a bid to break the deadlock, President Bola Tinubu intervened, expressing willingness to consider a national minimum wage higher than the previously proposed N60,000. Additionally, the tripartite committee pledged to convene daily until a new minimum wage agreement is reached.

President Tinubu’s directive to the Minister of Finance to present the cost implications of a new minimum wage within two days shows the government’s willingness to engage in meaningful negotiations.

While the NLC has not formally presented its final offer to the tripartite committee, indications suggest that the union will push for a N100,000 minimum wage. This figure, while still significantly higher than the current minimum wage, represents a notable compromise from the union’s initial demands.

NLC May Consider N100,000 as New Minimum Wage.

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