BREAKING: Nigerian Govt To Considers N500,000 As New Minimum Wage
There are signs that organized labour in Nigeria will advocate for a new minimum wage of N500,000 as the zonal public hearing on the new wage structure gets underway.
The Nigeria Labour Congress (NLC) President, Joe Ajaero, had previously indicated that the organization would try to push for as much as N1 million; however, Punch has learned that the demand might only be N500,000 based on suggestions made by state chapters.
Various parties are anticipated to provide comments at the public hearing regarding a new minimum wage that takes into account the realities of the modern economy.
The zonal public hearing is being held simultaneously in Lagos, Kano, Enugu, Akwa Ibom, Adamawa, and Abuja. It involves organized labour, state governors, ministers, civil society groups, and the organized private sector.
The goal is to arrive at a new minimum wage that considers workers’ economic challenges and aspirations. As provided by law, the current N30,000 minimum wage is set to expire on April 1, and the new wage is expected to be recommended by the tripartite committee on or before that date.
The demands from organized labour will depend on the cost of living index, which has been significantly affected by factors such as inflation, the depreciation of the naira, and the removal of the fuel subsidy.
The NLC has conducted a cost-of-living analysis, which reportedly suggests a figure slightly above N500,000 for an average family of six to meet their basic needs.
The zonal public hearing is part of the process initiated by President Bola Tinubu, who inaugurated a 37-member panel on the new minimum wage in January 2024.
The panel, comprising representatives from the federal and state governments, the private sector, and labour, is expected to recommend a new national minimum wage before the expiration of the current one.
