Federal Government Commits to New Minimum Wage Implementation as President Bola Tinubu has indicated openness to considering proposals from the committee regarding the new national minimum wage.
The Federal Government has reassured workers that despite ongoing negotiations by the Tripartite Committee On National Minimum Wage, they will not suffer any loss, as the new minimum wage will be put into effect from May 1, 2024.
Addressing attendees at the May Day celebration in Abuja, Minister of State for Labour Nkeiruka Onyejeocha acknowledged the delay in finalizing the new wage but stressed that consultations are in progress to expedite the process.
Labor Unions Voice Concerns over New Minimum Wage
Meanwhile, the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have urged President Bola Tinubu’s administration to hasten the wage review. Recent demands from Organised Labour have reached ₦615,000 to tackle economic challenges and the high cost of living in Nigeria.
The labor unions have expressed worry that the existing minimum wage of ₦30,000 is inadequate to meet the needs of the average Nigerian worker.
They pointed out that not all governors adhere to the current wage award, which expired in April, five years after the enactment of the Minimum Wage Act of 2019 by former President Muhammadu Buhari.
This Act mandates that the minimum wage should be reviewed every five years to keep pace with workers’ evolving economic circumstances.
Tinubu’s Message to Nigerian Workers
On a different note, President Tinubu commended the efforts of Nigerian workers for their contribution to the nation’s development.
Vice President Kashim Shettima conveyed this appreciation during an event in Abuja commemorating the 2024 Workers’ Day.
Tinubu underscored the government’s willingness to consider proposals from the committee regarding the new national minimum wage.
He also highlighted that the current administration’s reform initiatives aim to propel Nigeria towards prosperity.
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