The Federal Government has proposed a new national minimum wage of N62,000 following negotiations with organised labour.
Governor Hope Uzodimma of Imo State, who also chairs the Governor’s Forum, announced this development after a Tripartite Committee meeting in Abuja on Friday.
He expressed optimism about the progress, noting that the negotiations are nearing completion.
“We are almost there. We are just about to finalize the details,” Uzodimma said.
“The committee, comprising government representatives, the Organized Private Sector (OPS), and organized labour, has reached a consensus. The recommendation will be presented to the President for further action.”
The organised labour, however, is advocating for a higher minimum wage of N250,000.
Festus Osifo, President of the Trade Union Congress (TUC), emphasized the need for a substantial increase given the current economic challenges.
“We believe that, considering the economic hardships and difficulties, N250,000 would be a fair minimum wage,” Osifo stated. “We will sign a report and forward our position to the President, who will then present it to the National Assembly.”
Mr. Goni Aji, Chairman of the Tripartite Committee on the National Minimum Wage, highlighted that the recommendation resulted from extensive dialogue and consensus among the parties involved.
He noted that similar scenarios had occurred in previous negotiations, referencing the 2018 exercise where different figures were proposed by various stakeholders.
“The mandate of our committee is to recommend, not approve. The figures we have agreed upon reflect a thorough understanding of current economic indicators and inflation rates,” Aji explained.
“Both the OPS and the government have agreed on N62,000, while labour is asking for N250,000. The crucial point is that discussions are ongoing.”
This proposal marks a significant step towards establishing a new minimum wage, aiming to balance economic realities with workers’ demands.
