The President of the Trade Union Congress of Nigeria (TUC), Mr. Festus Osifo, has expressed doubt that the long-awaited new minimum wage will be announced on May 1st.
Speaking with journalists in Abuja recently, Osifo highlighted that negotiations by the Tripartite Committee are still ongoing. He mentioned that while the TUC initially proposed N447,000 as the new minimum wage, they have since aligned their figure with the Nigeria Labour Congress (NLC), settling on N615,000.
Osifo emphasized that finalizing the new minimum wage announcement for May 1st seems improbable unless the federal government decides to settle on a minimum wage of N500,000. He clarified that the N615,000 demanded by organized labor is not fixed, acknowledging that negotiations will ultimately determine the outcome.
Furthermore, Osifo explained that the N615,000 figure emerged after thorough research and analysis. He pointed out that during the computation, the exchange rate was approximately N1,700 to a dollar. However, he remains hopeful that the committee will reconvene after May 1st to continue discussions.
