The President of the Trade Union Congress of Nigeria (TUC), Mr. Festus Osifo, has indicated that the much-anticipated new minimum wage may not be announced on May 1 as previously expected.
Osifo made this statement while speaking with journalists in Abuja yesterday, explaining that negotiations by the Tripartite Committee are still ongoing. He mentioned that the TUC had initially submitted N447,000 as the new minimum wage proposal but has since harmonized its figure with the Nigeria Labour Congress (NLC) to N615,000.
Regarding the timing of the new minimum wage announcement, Osifo stated, "So, certainly, May 1 will not work for the pronouncement of the new minimum wage. Except if the federal government wants to pay the minimum wage of N500,000 to workers."
He also emphasized that the N615,000 demanded by organized labor is not set in stone, as negotiations with the government will determine the final figure. Osifo mentioned that a proper study was conducted before arriving at the N615,000 amount, considering the exchange rate at that time.
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