The rationale behind the proposal of a N615,000 minimum wage has been elaborated by Organized Labour.
During an interview on Channels Television, Festus Osifo, the President of Trade Union, highlighted that various considerations led to the suggestion of N615,000 as the monthly minimum wage.
Osifo mentioned that Organized Labour is now awaiting the federal government’s response to their proposed minimum wage.
He emphasized, “We had a minimum wage harmonization committee that arrived at N615,000. Hence, Organized Labour, in collaboration with the Nigeria Labour Congress, is putting forth N615,000 as the new minimum wage. Our proposal is well thought-out and takes into account different factors. Negotiations involve fairness and reasonableness; therefore, we eagerly anticipate the government’s counteroffer to initiate discussions.”
This statement coincides with Nigeria’s observance of International Workers’ Day amidst economic challenges stemming from a high inflation rate of 33.22% in March. Notably, the country’s minimum wage continues to stand at N30,000.