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MINIMUM WAGE: See the New Minimum Wage Labour Demands

Published by Tope Fakinlede on June 12th, 2024.

MINIMUM WAGE: See the New Minimum Wage Labour Demands

The organized labour movement has made it clear that they expect a new national minimum wage of at least six figures. While they haven’t set a specific deadline for President Bola Ahmed Tinubu to present this proposal to the National Assembly, they insist that anything less than N100,000 is unacceptable.

Deputy President of the Trade Union Congress (TUC), Dr. Tommy Okon, emphasized this stance on Tuesday during the 112th International Labour Conference (ILC) in Geneva, Switzerland. He cited the recent removal of petrol subsidies and the floating of the naira, which have driven food inflation to a record high of 40 percent and overall inflation to a 25-year peak of 33.69 percent in April 2024.

Dr. Okon stressed that, given these economic pressures, a wage below six figures would not be sufficient for workers to survive. He stated, “I believe Mr. President is aware of the severe living costs due to his government’s policy decisions on petrol subsidies and foreign exchange market liberalization, which have intensified the hardships faced by Nigerians today.”

When questioned about the specific amount that would satisfy labour’s demands, Dr. Okon responded, “Considering the high cost of living, we are aiming for a minimum wage in the six-figure

range.”