However, the organised labour is now proposing N250,000, a reduction from their earlier demand of N494,000.
By Musa Ibrahim
After several hours of meetings on Friday, the Federal Government and the organised private sector raised their offer for the new minimum wage to N62,000, up from N60,000.
However, the organised labour is now proposing N250,000, a reduction from their earlier demand of N494,000.
This concludes the deliberations on the new minimum wage by the tripartite committee established by the Federal Government, following several months of discussions.
The recommendations will be sent to President Tinubu, who is expected to draft an executive bill for the National Assembly’s consideration.
With the tripartite committee, formed in January, completing its work, the responsibility now shifts to President Tinubu and subsequently to the National Assembly.
Although the labour, the organised private sector, and the Federal Government all agree that the current N30,000 minimum wage is unsustainable given the country’s economic situation, reaching a new figure has been challenging.
The government and the organised private sector viewed labour’s initial proposal of N494,000 as excessive, while labour considered the N60,000 offer insufficient.
Following the expiration of a labour-issued ultimatum on May 31, unions went on strike on June 3, causing business shutdowns nationwide.
The strike was suspended on Tuesday after the Federal Government promised to raise the minimum wage to more than N60,000, leading to the resumption of negotiations, which continued until tonight.
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