Economy

FG increases minimum wage offer, proposes to pay N62,000

Published

2 years ago

President Bola Tinubu has congratulated Keir Starmer and the Labour Party for winning the UK election. Starmer became the new prime minister

The Federal Government has increased its minimum wage offer from N60,000 to N62,000.

This follows the meeting of the Tripartite Committee on New National Minimum Wage held on Friday.

Meanwhile, organized labour has tabled a N250,000 minimum wage proposal. The private sector, however, supported the government’s offer of N62,000.

The meeting was adjourned without reaching a consensus.

The Nigeria Governors’ Forum (NGF) had earlier rejected the Federal Government’s N60,000 proposal, deeming it unsustainable.

The governors argued that such a wage would deplete state resources, leaving nothing for development purposes, and might even necessitate borrowing to pay workers’ salaries.

Labour unions, led by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), embarked on a strike Monday, protesting the government’s proposed wage as unacceptable.

The strike was however halted a day later.