The Federal Government has received a new minimum wage proposal from the Organized Labor, which amounts to N497,000.
The Organized Private Sector and the Federal Government have also jointly suggested a minimum wage of N57,000.
In a chat with our correspondent, a highly knowledgeable source from the recently finished tripartite committee meeting on minimum wage disclosed this information.
According to the source, “OPS and the Federal Government have jointly proposed N575,000; labor has now made a fresh proposal of N497,000.”
The 37-member Tripartite Committee on Minimum salary was established by President Bola Tinubu through Vice President Kashim Shettima on January 30, 2024, in order to develop a new minimum salary before the present N30,000 wage expires on April 18.
The council will suggest a new national minimum wage for the nation. Its members include organized labor, the federal and state governments, and the business sector.
Shettima encouraged the panel’s members to “speedily” come to a decision and turn in their findings on time.
Shettima stated, “This timely submission is crucial to ensure the emergence of a new minimum wage.”
A zonal public hearing was concurrently held on March 7 in Lagos, Kano, Enugu, Akwa Ibom, Adamawa, and Abuja in furtherance of its assignment.
Taking into account the current economic downturn and the high cost of living, the NLC and the TUC in several states advocated varying amounts as a living wage.
The TUC proposed N447,000 as the minimum wage, whereas the NLC members in the South-West states wanted N794,000.
The workers at the North-Central zone hearing in Abuja called for N709,000 to be the new national minimum wage, while their South-South counterparts argued for N850,000.
A minimum salary of N485,000 was proposed in the North-West, while N540,000 was asked by the stakeholders in the South-East.
However, organized labor agreed to accept a livable wage of N615,000.
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