The Federal Government of Nigeria is standing by its proposal for a new national minimum wage of ₦62,000, aimed at mitigating the economic hardships faced by workers. This proposal is the result of extensive negotiations involving labor unions and the private sector. Representing the governors in these discussions, Imo State Governor Hope Uzodimma announced that substantial progress has been made, and the recommendation will soon be presented to President Bola Tinubu for approval.
However, the labor unions, particularly the Trade Union Congress (TUC), have raised concerns that the proposed amount is still insufficient. They are advocating for a minimum wage of ₦250,000, citing the severe economic difficulties currently impacting workers. Initially, the unions had demanded ₦494,000, but this was deemed unrealistic by both government and private sector representatives. The ongoing discussions aim to find a balanced solution that will ease financial pressures on Nigerian workers while ensuring economic stability.
The final decision by President Tinubu is highly anticipated, as it is expected to provide much-needed relief and address the significant economic challenges faced by workers across the nation.
