New minimum wage announcement on May Day not feasible - TUC president

News Agency Of Nigeria

April 26, 2024 1:45 PM

A 37-member tripartite committee on minimum wage set up by FG to continue negotiations on new minimum wage.

Festus Osifo, President of Trade Union Congress of Nigeria (TUC) [The Guardian Nigeria]

The Trade Union Congress of Nigeria (TUC) President, Festus Osifo, has said that the much-awaited new minimum wage may not be announced on May 1.

Osifo said this while speaking with newsmen on Friday in Abuja.

"The negotiation by the Tripartite Committee is still on going. If you remember, the TUC earlier submitted ₦447, 000 as the new minimum wage but we have harmonised our figure with the Nigeria Labour Congress (NLC) .

“It is now ₦615,000. Regarding the when for the new minimum wage, the committee is still working.

“So, certainly, May 1, will not work for the pronouncement of the new minimum wage. Except if the Federal Government wants to pay the minimum wage of ₦500, 000 to workers,” he said.

He however said that the ₦615,000 demanded by the organised labour is not sacrosanct.

"The government also has its markup and so conversations and negotiations will start and end somewhere," he stated.

He also noted that before organised labour arrived at that amount, a proper study was conducted.

"If you look at the ₦615. 000, you will think that the amount is right but at about the time we did that computation, a dollar was about ₦1, 700.

"I am hopeful that the committee will meet after May 1,” he noted.

NAN reports that the 37-member tripartite committee on minimum wage set up by the Federal Government to continue further negotiations and consultations on the new minimum wage.

The National Minimum Wage Committee is chaired by former Head of the Civil Service of the Federation, Bukar Aji, with other members drawn from the Federal Government and State Governments, the Private Sector as well as the Organised Labour.

Vice President Kashim Shettima said the setting up of the minimum wage review committee is a reaffirmation of President Bola Tinubu’s desire to motivate the nation’s workforce which he describes as the cornerstone of the administration.

Shettima notes that though decisions made to salvage the economy remain inevitable, the Federal government is not oblivious of the short-term implications, assuring Nigerians of better days ahead.

He urged the committee to be diligent and consult widely in arriving at a fair and decent wage that can alleviate the sufferings of the people.

News Agency Of Nigeria