Joe Ajaero, the President of the Nigerian Labour Congress (NLC), and Festus Osifo, Trade Union Congress(TUC) Leader agreed on Wednesday 1st May 2024 at Eagle Square Abuja that the current minimum wage of N30,000 is insufficient for Nigerian workers due to the economic meltdown, inflation in food prices, scarcity and hike of Petrol prices and transportation fares.
They insisted that the minimum wage be increased to N615,000 and should be approved for implementation by the President Bola Tinubu administration.
They said that they will no longer guarantee industrial harmony if the negotiation for the implementation of the new minimum wage still lingers till May 31.
Today, 20th May 2024, they had a meeting to negotiate the minimum wage that is, the Federal Government, TUC, and NLC plus the private sector, they proposed three minimum wages for the employees but this negotiation was stalled because the NLC and TUC walked on the proposed paltry sum of N48,000 as against the N615,000. The organized labor faulted the government for not providing substantial data that supported their offer but agreed to continue negotiation tomorrow, Tuesday 21st May 2024 because the Federal Government apologized.
They need to increase the minimum wage immensely. That paltry offer is ridiculous