July 13, 2024

FG meets NLC, TUC leaders Thursday over new minimum wage dispute

There are indications that the current faceoff between organized labour and the Nigerian government is about to come at a collaborative end as President Bola Tinubu will on Thursday, July 11, meet the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) of Nigeria for consultation before sending a bill on a new national minimum wage to the National Assembly.

President of TUC, Comrade Festus Osifo confirmed this to reporters on Wednesday.

The process of implementing a new national minimum wage has come to a halt following President Tinubu’s announcement that he will consult with relevant parties before submitting the bill for approval.

This move indicates a delay in the negotiations for a new minimum wage, as stakeholders await the outcome of the president’s consultations.

Mr Tinubu had earlier announced that an executive bill would be sent to the National Assembly to formalise the new minimum wage agreement.

While the government and the Organised Private Sector agreed on N62,000, labour demanded N250,000.

The organised labour bodies are seeking the new minimum wage to cushion the biting cost of living in Nigeria which has reached new record levels, following the removal of subsidy and floating of the local currency.

Nigeria is facing its worst economic problem in decades as annual inflation passes 30%. The cost of food has gone in several folds.

The federal government says efforts are ongoing to strengthen the economy while calling for calm among citizens.

 

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