FG Offers To Pay 62k As new Minimum wage

The Federal Government has increased its offer for the new minimum wage to N62,000 from the earlier N60,000.

The government made the offer at the Tripartite Committee on New National Minimum Wage held on Friday, June 7, 2024.

However, organized labor is proposing an N250,000 which is a shift from its earlier N494,000.

The organized private sector also backed the government offer of N62,000.

Recall that the call for a new minimum wage followed the removal of the petroleum subsidy and other reforms by the government.

READ ALSO: Gov. Diri Sets Up Committee On New Minimum Wage

The talks between the government and labor have not been smooth, and the breakdown recently led to a two-day strike by workers.

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) led workers across the country to shut down business activities on Monday and Tuesday following a breakdown in the ongoing talks over the new national minimum wage.

In the middle of the strike, the labor leaders met with the government team led by the Secretary to the Government of the Federation, George Akume, on Monday night in Abuja.

Although no amount was agreed upon as the new minimum wage, the parties agreed that the federal government would raise it above the N60,000 it currently offers.

The unions subsequently suspended the strike for five days to continue the discussion.

The government has consistently described the N494,000 new national minimum wage demand by Labour as unrealistic and capable of destabilizing the economy.

The National Assembly held a meeting to forestall the strike on Sunday; however, it ended in a deadlock as workers still embarked on the strike.

On Tuesday, President Tinubu directed the Minister of Finance and Coordinating Minister, Wale Edun, to produce a template for the minimum wage.