Organised Labour Reduces Minimum Wage Demand far below N250,000

In a move reflecting the dire economic conditions facing Nigerians, the Organised Labour has reduced its minimum wage demand from N250,000 to N100,000, according to the Deputy President of the Trade Union Congress (TUC), Dr. Tommy Okon., pub-3822032484198406, DIRECT, f08c47fec0942fa0

Speaking at the ongoing 112th International Labour Conference (ILC) in Geneva, Switzerland, Okon explained that the reduction in the demand was due to the high cost of living resulting from the removal of petrol subsidies and the floating of the naira by the Tinubu administration.

“With the removal of subsidies on petrol and floating of the naira that have pushed food inflation to an all-time high of 40 per cent and inflation to more than 25 years height of 33.69 per cent in April 2024, President Tinubu knows that any amount that is less than a six-figure would be a starvation wage,” Okon said.

While the labour movement is not attaching a timeline for President Tinubu to submit a new national minimum wage to the National Assembly, Okon made it clear that they expect the figure to be no less than N100,000.

“I want to believe that Mr. President will be very conscious of the fact that there is high cost of living caused by the removal of petrol subsidies and liberalisation of the FX market. These decisions were taken by his government which have exacerbated the hardships Nigerians are going through today,” Okon stated.

The development comes as Nigerians continue to grapple with the economic fallout from the government’s policy decisions, underscoring the delicate balance between fiscal reform and the wellbeing of the populace.

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