FG offers N62,000 as new minimum wage

Negotiations over Nigeria’s new national minimum wage have hit an impasse, with organized labor reducing its demand but still far off from the government’s latest offer.

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The Federal Government has increased its proposed minimum wage to N62,000, up from the previous offer of N50,000. However, organized labor has now reduced its demand from the initial N494,000 to N250,000.

 

The Tripartite Committee on the New National Minimum Wage adjourned its latest meeting without reaching a consensus on the figure. The organized private sector has also come out in support of the government’s N62,000 offer.

 

“We had hoped the parties would find common ground, but the gulf between the government’s offer and labor’s demand remains significant,” said the Committee Chairman. “Further negotiations will be needed to bridge this gap.”

 

The minimum wage in Nigeria was last reviewed in 2019, when it was increased from N18,000 to N30,000. The current negotiations are meant to update the minimum pay for Nigerian workers to keep pace with the rising cost of living.

 

With the talks at an impasse, it remains unclear when Nigeria will have a new, agreed-upon national minimum wage in place. Both sides have expressed a willingness to continue discussions, but achieving a compromise appears challenging at this stage.

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