The tripartite committee set up by the Federal Government to negotiate a new minimum wage will meet on Wednesday, May 15, 2024, after several weeks of pause. The committee, comprising representatives from the government, private sector, and labour unions, aims to reach a consensus on a new minimum wage.
Labour unions have maintained their proposal of N615,000 as the new minimum wage and reiterated the May 31, 2024 deadline for the negotiations to be concluded. The Federal Government had inaugurated the 37-member tripartite committee in January 2024, chaired by former Head of the Civil Service of the Federation, Goni Aji.
The committee had conducted zonal public hearings in March 2024, where various figures were proposed as a living wage, ranging from N447,000 to N850,000. The labour unions later settled on N615,000 as their proposed minimum wage.
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Sources close to the negotiations have confirmed that the committee will meet on Wednesday to review the reports from the zonal hearings and continue negotiations. The labour unions are insisting on a realistic offer from the government, emphasizing that a new minimum wage would increase workers’ purchasing power and boost the economy.
However, some experts have suggested a middle-of-the-road approach, noting that the N615,000 proposal may be unrealistic given Nigeria’s current economic resources.
The government has not made a concrete offer yet, and the negotiations are expected to be intense as the deadline approaches.