An explanation has been provided by Organized Labour regarding the basis for their proposal of N615,000 as the minimum wage.
During an interview on Channels Television, Festus Osifo, the President of Trade Union, emphasized that Organized Labour took numerous factors into consideration before settling on the figure of N615,000 for the minimum wage.
Osifo mentioned that Organized Labour is now awaiting the federal government of Nigeria’s response to their proposed minimum wage.
“Following discussions by a minimum wage harmonization committee, we arrived at the figure of N615,000. It is the stance of Organized Labour, in conjunction with the Nigeria Labour Congress, that N615,000 should be the new minimum wage. Our proposal is not made thoughtlessly; it is a product of thorough analysis considering various aspects. Negotiations require presenting a reasonable and just figure, and we are anticipating the government’s counteroffer to begin discussions,” he explained.
His comments come as Nigeria, amidst significant economic challenges due to a 33.22% inflation rate in March, commemorates International Workers’ Day along with the global community. It is important to note that the country’s minimum wage remains at N30,000 despite the prevailing economic circumstances.