May 1: FG May Not Announce New Minimum Wage; Labour Demands N615,000

The Organised Labour in the country has agreed on a monthly minimum wage of N615, 000.

The President of the Trade Union Congress, TUC, Festus Osifo made this known in Abuja on Thursday. The TUC president who spoke with journalists after the TUC’s National Executive Council Meeting, in the nation’s capital said their demand is based on the current economic realities in the country.

According Osifo, the two major labour unions in the country   TUC and Nigerian Labour Congress, NLC have harmonized their new wage demand, stating that the unions are currently working to intimate the federal government with their demand.

He explained that their earlier demand of N447, 000 was no longer in tune with the economic realities in the country, adding, for instance, the fluctuation in the exchange rate of the Naira to the American Dollar.

He stated further that the expectation that the new wage will be announced on May I, Workers’ Day was no longer possible because negotiations are still ongoing between the federal government and Organised Labour., adding that the fluctuation in the exchange rate of the naira to the dollar will be an important factor during the negotiation.

Osifo said:  “If you remember, the TUC earlier submitted about N447,000, but we have harmonised with the Nigeria Labour Congress (NLC).

“It is now N615,000, and regarding the timeline, 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.

“This is except the Federal Government wants to pay the minimum wage of N500,000 to workers.

“But when you divide it, you see that dollar was about less than 400 dollars per month but we have countries in Africa that are doing much more than that,” he said.

“I also want to say that we have collated all our reports today and we are streamlining it and some subcommittees in the Tripartite Committee are still working.

“So, it is just for us to fast-track those work so that we can conclude soonest and we were supposed to have a meeting this week but it was called off,” Osifo said.

Not a few Nigerians insist that the government may not be able to meet the Organised Labour demand of N615, 000, adding that the parties are poised for a long term negotiation in other to be able to come to an agreement because of the huge amount involved.