The Nigerian Federal Government has raised its proposal for a new national minimum wage to ₦62,000, while organized labour has lowered its demand from ₦494,000 to ₦250,000.
This shift comes in the wake of Finance Minister Wale Edun’s presentation of the financial implications of the new minimum wage to President Bola Tinubu.
A source confirmed these details to a correspondent from The Punch on a Friday evening in Abuja.
“The government finally proposed a wage of N62,000, supported by the private sector, after a lengthy deliberation. Labour has also decreased its demand to N250,000. This situation is disappointing,” stated the source, who is part of the labour negotiation team. It’s worth noting that President Tinubu had earlier instructed Edun to provide the financial details for a new minimum wage within a two-day timeframe.
This directive was issued during a meeting with the government negotiation team, led by the Secretary to the Government of the Federation, George Akume, at the Presidential Villa in Abuja. While Edun has presented the proposal to the President, it has not been disclosed to the public yet.