Why Announcement Of New Minimum Wage Is Not Feasible On May 1 – TUC

Ahead of the May 1, Workers Day celebration across states in the country, the President of the Trade Union Congress of Nigeria (TUC), Festus Osifo, on Friday, said the minimum wage announcement may not be realistic.

Osifo’ said this in Abuja while speaking with newsmen.

Recall that the TUC had pegged its minimum wage demand at N447,000, while the Nigeria Labour Congress (NLC) demanded N794,000 per worker.

However, following the disparity in their demands, in a fresh proposal to the government, both parties presented N615,000 as the new minimum wage for workers.

According to the National Minimum Wage Act of 2019, the new wage was supposed to take effect in April 2024.

Addressing newsmen on the delay, Osifo said, “The negotiation by the Tripartite Committee is still ongoing. If you remember, the TUC earlier submitted N447,000 as the new minimum wage but we have harmonised our figure with the Nigeria Labour Congress (NLC). It is now N615,000.

“So, certainly, May 1, will not work for the pronouncement of the new minimum wage. Except if the federal government wants to pay the minimum wage of N500,000 to workers.”

Osifo said that the Labour demand was not sacrosanct while revealing that the unions were open to dialogue to reach a realistic agreement.

“The government also has its markup so conversations and negotiations will start and end somewhere.

“If you look at the N615,000, you will think that the amount is right but at about the time we did that computation, a dollar was about N1,700. I am hopeful that the committee will meet after May 1.” Osifo said.