Festus Osifo, the President of the Trade Union Congress (TUC), expressed skepticism regarding the possibility of announcing the long-awaited new minimum wage on May 1.
In a discussion with reporters in Abuja on Friday, Osifo indicated that ongoing negotiations by the Tripartite Committee may delay the announcement.
He mentioned that the initial proposal submitted by TUC was N447,000, but after harmonization with the Nigeria Labour Congress (NLC), the figure now stands at N615,000.
Osifo stated, “The committee is still in the process of reaching a consensus, so it is unlikely that the new minimum wage will be announced on May 1, unless the Federal Government intends to pay N500,000 as the minimum wage.”
He clarified that the N615,000 demand from organized labor is not set in stone, acknowledging that negotiations will determine the final amount.
Osifo highlighted the rigorous study conducted before arriving at the proposed figure, taking into account factors like exchange rates at the time.
Emphasizing the need for further discussions, he expressed hope that the committee would convene post-May 1 to continue deliberations.
The Tripartite Committee for minimum wage, comprising 37 members, was established by the Federal Government to facilitate ongoing discussions and consultations on the new wage structure.
Chaired by former Head of the Civil Service of the Federation, Bukar Aji, the committee includes representatives from the Federal and State Governments, private sector, and organized labor.
Vice President Kashim Shettima praised the committee’s formation as a testament to President Bola Tinubu’s commitment to empowering the nation’s workforce, essential for the administration’s success.
While acknowledging the challenging decisions required for economic recovery, Shettima assured citizens of a promising future and urged the committee to conduct thorough consultations for a fair and sustainable wage.