In a recent development, the Federal Government has raised its proposed new national minimum wage to N62,000. This comes after organized labour reduced its initial demand of N494,000 to N250,000.
However, the Tripartite Committee on New National Minimum Wage has adjourned its meeting without reaching a consensus. The organized private sector has expressed support for the government’s offer of N62,000.
The negotiations are ongoing, and the outcome remains uncertain. The federal government’s increased offer is seen as a step towards finding a mutually acceptable solution, but the gap between the parties’ demands remains significant.
The new minimum wage issue has been a topic of contention in the country, with labour unions and workers pushing for a higher wage to address the high cost of living and economic hardship.
The federal government and private sector have been cautious, citing economic constraints and potential impacts on businesses and the economy.
The developments will be closely watched, as the outcome will affect millions of workers and the overall economy.
