The Nigeria Labour Congress (NLC) has formed a negotiation team in preparation for discussions with the government regarding the upcoming review of the minimum wage.
The current minimum wage, negotiated in 2018, is set to expire in April 2024. President Bola Ahmed Tinubu, in his New Year address, pledged to implement a “national living wage” this year.
NLC President, Comrade Joe Ajaero, hinted that the new minimum wage might not be less than N200,000. The negotiation team is awaiting the government’s formation of the committee for the wage review.
Ajaero emphasized the importance of considering economic indices such as the cost of living, currency devaluation, and labor market conditions during the negotiation. He indicated that the negotiation team would carefully assess prevailing circumstances before proposing a new minimum wage.
The President of the NLC also addressed the government’s payment of the N35,000 petrol subsidy palliative, stating that arrears would be paid, and negotiations would resume from where they left off. While the government has not yet constituted the committee for the wage review, Ajaero expressed confidence that negotiations could be concluded within a week, depending on the seriousness of the government.
The interview touched on various aspects of the negotiation process, including the likely timeframe for the new minimum wage to take effect, which is expected to align with the expiration of the current minimum wage in April. Ajaero emphasized the need for compliance and respect for agreements reached during the negotiation process.
Overall, the NLC is positioning itself for robust negotiations to ensure an equitable and realistic minimum wage that reflects the economic realities faced by workers in Nigeria.
