FG Proposes N62,000 Minimum Wage As Organized Labour Slashes Demand To N250,000

The Bola Ahmed Tinubu-led Federal Government has increased its offer of a new national minimum wage to N62,000.

It was gathered that the organized labour also reduced its demand from N494,000 to N250,000 on Friday.

INFORMATION NIGERIA reports that the development is coming, after the Minister of Finance, Wale Edun, submitted the cost implication of minimum wage to President Tinubu.

According to a source, told PUNCH after the meeting, lamented how the process went in deadlock.

READ MORE: Finance Minister, Edun Submits New Minimum Wage Options To Tinubu

He said: “After wasting our time, they finally came up with the offer of N62,000 which was backed by the private sector. Labour also reduced ours to N250,000. This is embarrassing.”

Recall that the unions, involving Trade Union Congress and the Nigeria Labour Congress, embarked on strike on June 3, shutting down businesses across the nation.

The action was suspended on Tuesday after the FG promised to increase the minimum wage to an amount bigger than N60,000 as they resumed negotiations.

The suspension of the strike gave room for the resumption of negotiations which continued until this night.