The Information Minister, Mohammed Idris, recently assured Nigerians that the government and other stakeholders are diligently working to develop a realistic and sustainable minimum wage. The Finance Minister, Wale Edun, is expected to submit the new minimum wage proposal to President Bola Tinubu today. This directive follows the suspension of the nationwide strike by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).
Idris stated, “All parties to the negotiation of the new minimum wage will work together with organized labor to present a new minimum wage for Nigerians within one week.” He emphasized that everyone involved will strive to ensure the new wage is acceptable, sustainable, and realistic.
On June 3, organized labor initiated a nationwide strike that disrupted major sectors of the Nigerian economy. The strike was paused after unions met with government representatives, who promised to raise the initial offer beyond ₦60,000. Previously, unions demanded an increase from ₦30,000 to ₦494,000.
While awaiting the presidential proposal for the new minimum wage, TUC President Festus Osifo, during an interview on Channels TV, mentioned that the union is flexible on the ₦494,000 demand but will not accept a minimal increase from the ₦60,000 offer.
Following the presentation of the new proposal to the president, union leaders will resume negotiations for a final agreement on the new minimum wage.