In a recent interview on Channels Television’s “Politics Today,” Senator Adams Oshiomhole, who represents Edo North, confirmed that Nigerian workers, the Federal Government, and state governments have reached a consensus on the need to increase the minimum wage.
Oshiomhole, a former labour union leader, stated that all parties involved recognized that the current minimum wage of N30,000 is outdated. He emphasized that it should be increased to keep up with the rising cost of living.
The Federal Government has assured workers that, despite ongoing negotiations by the Tripartite Committee On National Minimum Wage, they will not experience any loss. The new minimum wage will be implemented from May 1, 2024.
Labour unions in Nigeria are pressuring authorities to raise minimum wages as inflation and economic turmoil put pressure on the cost of living. The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have urged President Bola Tinubu’s administration to accelerate the wage review. Recent demands from Organised Labour have reached ₦615,000 to address economic challenges and the high cost of living in Nigeria.
Oshiomhole commended the Federal Government for its assurance to the workers that the new minimum wage will take effect from May 1. This commitment is seen as a significant step towards improving the living standards of workers across the country.