The Nigerian Labour Congress and Trade Union Congress have put forward a proposal for a ₦615,000 monthly minimum wage for workers across the nation.
According to a reliable source within organised labour, the proposed wage adjustment reflects extensive consultations conducted by the NLC and TUC.
While the government deliberates on the proposal, there is anticipation that the wage might undergo further review, particularly in light of recent electricity tariff hikes.
The formation of a 37-member panel, chaired by former Head of the Civil Service of the Federation, Bukar Aji, was initiated by President Bola Tinubu, aiming to address the expiration of the current ₦30,000 minimum wage.
The panel, which includes representatives from various sectors, is tasked with recommending a fair, practical, and sustainable minimum wage.
Disagreements over the proposed minimum wage have surfaced, with some advocating for a higher figure while others express concerns about feasibility and sustainability.
Economists emphasize the need for comprehensive negotiations considering the involvement of both federal and state governments, as well as the private sector, in the implementation process.
There are divergent views regarding the feasibility of the proposed ₦615,000 minimum wage, with considerations for varying economic capacities among states and sectors.
Speculation arises regarding the potential impact of currency exchange rates on the final decision, as well as the challenges that certain states may face in meeting the proposed wage standards.
