The Federal Government has increased its offer for a new national minimum wage to N62,000 from N60,000, following negotiations with organized labour groups.
This development comes after organized labour lowered its demand from an initial N494,000 to N250,000.
Despite the revised proposals, no consensus was reached at the latest meeting of the Tripartite Committee on the New National Minimum Wage, leading to an adjournment.
The organized private sector has expressed agreement with the government’s N62,000 offer, aligning with the Federal Government’s position on the new wage proposal.
The ongoing negotiations highlight the efforts of both the government and labor unions to find a mutually acceptable minimum wage that addresses the economic realities and cost of living challenges faced by workers.
More details later…
