The Federal Government of Nigeria is set to inaugurate the tripartite committee on the minimum wage on Tuesday, January 30, 2024.
This initiative, approved by President Tinubu, aims to address the current cost-of-living crisis caused by subsidy removal and naira devaluation, with inflation reaching a 27-year high of 28.92 per cent.
Despite promises of diverse palliatives, implementation under the Tinubu administration has been slow. In October, the President approved an N35,000 wage award to federal civil servants, urging sub-national governments to follow suit.
The Nigerian Labour Congress (NLC) has been pressuring the government for programs to alleviate the economic challenges.
In 2023, organized labor engaged in nationwide protests, demanding an increase in the minimum wage. The NLC president indicated that the new request ranges from N100,000 to N200,000, a significant rise from the current N30,000.
President Buhari had approved the N30,000 minimum wage in 2019 after negotiations with organized labor. However, inflation has surged from 11.98 per cent in 2019 to the current 28.92 per cent.
