The Federal Government has proposed a new national minimum wage of ₦62,000. This proposal comes amid ongoing negotiations with organized labour, which has adjusted its initial demand from ₦494,000 to ₦250,000.
Despite these adjustments, the Tripartite Committee on the New National Minimum Wage has yet to reach a consensus, leading to an adjournment of the latest meeting. The negotiations have been complex, reflecting the varied interests and economic pressures faced by different stakeholders.
The organized private sector has expressed its support for the government’s proposed figure of ₦62,000, aligning with the government’s stance in the current negotiations.
Further details on the proceedings and potential impacts of this proposed wage adjustment will be provided as the situation develops.
