Minimum Wage: Labour Considers Slashing N494k Demand as Tinubu Gives Fresh Order, Details Emerge

• Organised labour is ready to shift ground on its demand for N494,000 minimum wage to N100,000, according to several sources
• This followed the criticism that greeted the N494,000 minimum wage demand, with many saying it was ridiculous and outrageous
• Also, the tripartite committee on the new minimum wage have agreed to meet every day until a new minimum wage is announced

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There are indications that the organised labour is considering a reduction in its initial demand of N494,000 as the new minimum wage to N100,000.

This is as the tripartite committee on the new minimum wage began sitting daily for five days to reach a consensus and put the matter to bed.

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Labour's new minimum wage

According to The Punch, multiple sources disclosed that the leadership of organised labour is ready to review its demands in light of the criticism and controversies that followed the proposal.

Critics considered the minimum wage proposal by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) unrealistic and outrageous.

Organised labour embarked on an indefinite strike on Monday, June 3, following the failed intervention of the national assembly. Their action grounded the country's economy.

NLC strike: List of workplaces shut

Courtrooms, banks, and airports were shut during the strike, forcing the federal government to hold an emergency meeting to find a lasting solution to the saga.

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However, the union announced the suspension of the strike for five days to give room for the negotiation.

This came after President Bola Tinubu agreed to pay a minimum wage above N60,000 and the tripartite committee's readiness to meet daily until the matter is resolved.

To express his commitment to the discussion, Tinubu directed the minister of finance, Wale Edun, to present a cost implication for a new minimum wage within 48 hours of the ultimatum.

The president gave the order during his meeting with the government negotiation team led by George Akume, the secretary to the government of the federation, at the presidential villa in Abuja on Tuesday, June 4.

Minimum Wage: Labour speaks on N494,000 demand

Legit.ng earlier reported that Festus Osifo, the president of the TUC, said organised labour was aware that everybody would not pay their N494,000 demand for the minimum wage.

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Osifo posited that the government knew organised labour was not fixated on its demand for the new minimum wage.

The TUC president then stated that their negotiations were based on certain principles, such as inflation and exchange rates.

Proofreading by James Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng