The government committee in charge of setting the national minimum wage is meeting every day for five days to try to reach an agreement. The labor unions may accept a minimum wage of 100,000 naira.
According to many people close to the labor movement who spoke with The PUNCH newspaper on Tuesday, union leaders are ready to lower their demand from 494,000 naira to 100,000 naira. This is due to the strong criticism and debate around their original plan, which was seen as very high and not realistic.
In a statement on Saturday, the media aide of the Minister of Information and National Orientation, Mohammed Idris, said the proposed 494,000 naira minimum wage would cost the government 9.5 trillion naira per year. The minister said this cost would be too much for the country’s finances to handle.
However, in a video post on X (the social media platform formerly known as Twitter), the Secretary to the Government of the Federation, George Akume, said “I can’t afford to pay my four drivers 100,000 naira each per month.”
This suggests that even a 100,000 naira minimum wage may be viewed as too high by some government officials. The labor unions had originally asked for 494,000 naira, which is over 4 times the current minimum wage of 30,000 naira. This demand was seen by many as unrealistic and excessive.
Now, with the daily meetings of the government committee, the labor unions seem willing to compromise and accept a lower minimum wage of 100,000 naira. This is still a significant increase from the current level, but lower than their original proposal.
The negotiations are taking place against a backdrop of concerns about the impact a very high minimum wage would have on government finances and the overall economy. The Minister of Information warned that the 494,000 naira proposal would be too costly for the country.
As the committee continues its deliberations, both sides will likely have to make concessions in order to reach a final agreement on the new national minimum wage. The outcome will have important implications for workers, businesses, and the government’s budget….Sée Móre
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