Tinubu gets proposed minimum wage cost as govt. races to avert another strike

Nigeria’s President Bola Tinubu on Thursday received the cost implications of a yet-to-known minimum wage for workers in the country.

This is as the government races to avert another round of strike, after labour suspended the one it called on Monday.

Wale Edun, minister of finance and coordinating minister of economy, along with Atiku Bagudu, minister of budget and national planning, submitted the wage estimates to President Tinubu.

Previously, the presidency had issued a statement that it reached an agreement with labour on a fresh proposed national minimum wage.

The statement also said the President ordered that the tripartite committee conclude negotiations within five days.

TheCornet reports that the organised labour, mainly the Nigerian Labour Congress and the Trade Union Congress, rejected the ₦60,000 minimum wage the federal, state, and organised private sector had proposed to it.

It is widely believed that Labour’s demand of ₦497,000, which it said is based on the existing economic challenges, is unrealistic. Labour is also asking the government to rescind its decision to remove electricity subsidy.

The Nigerian government removed the subsidy, while allowing power distribution companies to charge electricity consumers cost-reflective tarriff.

Despite the increase in electricity pricing for high-end consumers with assurance of more efficient services, power supply remains a challenge.

The situation is worse for customers on the lower tarriff bands and particularly for small-scale businesses reliant on power to provide services.