No going back on N250,000 minimum wage, TUC insists

Date:

July 10, 2024.

Thank you for reading this post, don't forget to subscribe!

Azonuchechi Chukwu.

The Organised Labour still insists that the N250,000 benchmark remains the ideal minimum wage for workers in Nigeria, the President, Trade Union Congress, Festus Osifo, declared on Tuesday.

Osifo also stated that TUC and the Nigeria Labour Congress were meeting with officials of the Federal Government to reach an agreement on the minimum wage.

He disclosed this at the Petroleum and Natural Gas Senior Staff Association of Nigeria Women Commission maiden Annual Convention in Abuja, with the theme, ‘The Dynamic Woman: Navigating Challenges in a Constantly Evolving World.’

Discussions on a new national minimum wage has paused following the decision of President Bola Tinubu to consult with stakeholders before sending the bill to the National Assembly.

The Federal Government and Organised Private Sector have agreed on N62,000 as the new minimum wage, but labour is insisting on N250, 000.

Speaking at the event, Osifo said negotiations on the new minimum wage has not been abandoned, rather labour and the government were fine-tuning the matter.

“The minimum wage negotiations cannot be dead. The 2019 minimum wage (that has expired) took about two years to see the light of day. We started the negotiations in 2017.

“We promised you when we started in January (this year) that we will ensure this one is fast – tracked for us not to be in the conundrum that we were in 2019 which took two years,” the TUC president stated.

He insisted that the minimum wage was receiving attention, adding that the President wanted further consultations before submitting it to the National Assembly.

“So where we are today, we submitted the divergent position in June, when we did that you know clearly that Mr President came out to say that he wanted to consult across board which is the governors, Local Government chairmen, organised private sector and labour, so we are doing some level of reach-out and conversations.

“So that what will be submitted to the National Assembly will actually be a minimum wage that will cater for the poorest of the poor, so for the fact that in the media we are not shouting, we are doing some level of internal work so that this bill will be submitted in earnest soon. We still insist on the N250,000 benchmark as ideal minimum wage,” Osifo stated.(www.naija247news.com).

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247newshttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

Share post:

Subscribe

Popular

More like this
Related

Ogun, IFAD inaugurate cassava processing centre for farmers

July 12, 2024. Azonuchechi Chukwu. Ogun Government in collaboration with the...

Over 22 dead, 132 rescued from Plateau school building collapse

July 12, 2024. Azonuchechi Chukwu. The Plateau State Government has confirmed...

U.S. Advisory Council on African Diaspora Engagement to Visit Nigeria

United States of America: President’s Advisory Council on African...

Patoranking celebrated as he becomes UNDP Regional Goodwill Ambassador for Africa

July 12, 2024. Azonuchechi Chukwu. Nigerian singer Patrick Nnaemeka Okorie, better...
× How can I help you?