In a recent development, the President of the Trade Union Congress (TUC), Festus Osifo, has dismissed rumors that the negotiations for a new national minimum wage in Nigeria have stalled.
Speaking on Wednesday, Osifo affirmed that the Federal Government is still actively engaged in discussions with relevant stakeholders, including the Nigerian Governors Forum, Local Government Administrators, the Organised Private Sector, and Labor Unions.
Osifo revealed that the Unions have maintained their demand for a minimum wage of N250,000, which was part of the recommendations submitted to the President by the Presidential Tripartite Committee on New National Minimum Wage. He drew a comparison to the existing minimum wage of N30,000, which took two years to be negotiated.
Despite the lack of loud public discourse, Osifo assured that the Tripartite Committee has made substantial progress since the negotiations began in January 2024. He emphasized the need to ensure that the new minimum wage caters to the poorest segments of the population.
“Minimum wage negotiations cannot be dead,” Osifo stated. “We promised you when we started in January that we will ensure this one is fast-tracked for us not to be in the conundrum that we were as at 2019 which took two years.”
The TUC President expressed confidence that the new minimum wage bill will be submitted to the National Assembly in the near future, following the ongoing consultations with various stakeholders.