Economy
Nigerians React As Organised-Labour Rejects Federal Government’s ₦60,000 Minimum Wage-Proposal (Details)
Organised Labour has rejected the Federal Government’s new minimum wage proposal of ₦60,000, stating that it does not align with the nation’s economic realities. The Trade Union Congress (TUC) President, Festus Osifo, expressed this stance during an appearance on Tuesday’s edition of Channels Television’s Politics Today….CONTINUE READING
Osifo criticized the federal government’s indifferent approach to the deliberations on a new minimum wage and warned that organised labour would go on strike if the issue is not resolved promptly.
“The government must be very serious in addressing the issue of a new minimum wage. For us, we completely reject it. We want the government to be serious. Let them come and give us a breakdown of how a family is going to live with the minimum wage of ₦60,000,” Osifo stated.
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Citing Nigeria’s inflation rate of 33.69% as of April 2024, based on data from the National Bureau of Statistics (NBS), Osifo emphasized that labour had to “completely reject” the Federal Government’s latest offer of ₦60,000.
He reminded the government of the ultimatum issued on May 1st, stating, “Our ultimatum still subsists that we have issued on May 1st and today is the 28th day of May. So, what that clearly means is that we still have three days to resolve this matter.”
Regarding the reforms introduced by President Bola Tinubu, Osifo accused the government of policy inconsistencies and a lack of “deep thinking.” He rated the government’s performance at 2.5 out of 10, which translates to 25%.
Labour unions and the Federal Government have been engaged in prolonged negotiations over a new minimum wage, with the unions initially demanding ₦615,000. This demand was later reduced twice, with the current request at ₦494,000. The government and the organised private sector had proposed ₦48,000 and ₦54,000, respectively, which were also rejected by labour.
During a meeting of the committee on minimum wage on Tuesday, labour once again rejected the Federal Government’s new minimum wage proposal.
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