Tinubu Benchmarks N62,000 As New Minimum Wage, Labour Bickers, Reduces Demand to N250,000

By Stephen Asaba-ase

The Federal Government has proposed a new national minimum wage of N62,000, a significant increase from the previous offer.

However, organized labour has scaled down its initial demand of N494,000 to N250,000. Despite the adjustments, the Tripartite Committee on New National Minimum Wage failed to reach a consensus and has adjourned its meeting.

Notably, the organized private sector has expressed support for the government’s proposed figure of N62,000. The negotiations are ongoing, with a lingering uncertainty over the final minimum wage amount.