Festus Osifo, the President of the Trade Union Congress of Nigeria (TUC), has indicated that the announcement of a new minimum wage scheduled for May 1 might be delayed. The statement came during a press interaction in Abuja on Friday.
Osifo highlighted ongoing negotiations by the Tripartite Committee, which includes representatives from the government, employers, and labor unions. He pointed out that the TUC had initially proposed a new minimum wage of N447,000 but has since aligned its position with the Nigeria Labour Congress (NLC) to advocate for N615,000.
"The current discussions with the Tripartite Committee are still ongoing, and reaching a consensus by May 1 seems unlikely unless the government agrees to implement a minimum wage of N500,000 for workers," Osifo explained.
He stressed that the figure of N615,000 proposed by the labor unions is a starting point and not fixed, suggesting flexibility in the negotiations. "The amount was determined based on thorough research and economic conditions at the time of the calculations, considering the exchange rate then was about N1,700 to one dollar," Osifo added.
The National Minimum Wage Committee, chaired by Bukar Aji, former Head of the Civil Service of the Federation, and inaugurated by Vice President Kashim Shettima, is tasked with continuing these discussions. The committee's goal is to establish a fair and decent wage that addresses the economic realities and alleviates the hardships faced by Nigerian workers.
Vice President Shettima has acknowledged the challenging economic decisions necessary to stabilize the nation but reassured that the government is mindful of their immediate impacts. He encouraged the committee to undertake extensive consultations to arrive at a well-considered decision.
As negotiations continue, the labor unions remain hopeful that the committee will reconvene soon after May 1 to finalize the new minimum wage structure.
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