President of the Nigeria Labour Congress, (NLC), Joe Ajaero, has said that President Bola Tinubu was willing to accept the proposed N250,000 minimum wage for Nigerian workers on the condition that there would be a further increase in price of petroleum products.
During an interview on Channels Television on July 18, 2024, Ajaero stated that labor leaders rejected this condition, arguing it would worsen the current economic hardships faced by Nigerians.
Tinubu had on Thursday, approved N70,000 as the new minimum wage for workers after meeting with Ajaero and Festus Osifo, president of the TUC, at the presidential villa in Abuja.
The federal government will send a minimum wage bill to the national assembly next week.
Speaking on the development, Ajaero said labour leaders accepted the N70,000 offer because of the other benefits attached, and the three-year review period.
“Accepting N70,000 was the best way to make sure that we save Nigerians from further hardship,” Ajaero said.
“At the last meeting, the president brought a proposal that ‘I will give you guys N250,000, if you allow me to equally increase the pump price of petroleum products’ and we said no that we need to go and consult.
“Today, we went there to tell him ‘no’ and that the labour movement can make sacrifices without allowing Nigerians to suffer further on the increase of pump price of petroleum products.”
The NLC president said the current minimum wage regime became invalid on April 18, 2024, and that government will pay the arrears when a new wage regime kicks in.
Over the past few months, federal and state governments, organised labour, and the private sector have been negotiating a new minimum wage.
Initially, organised labour proposed N615,500 and N494,000 as the new national minimum wage, citing inflation and the prevailing economic hardship.
The federal government proposed N62,000, which was rejected.
The labour unions had insisted on N250,000 as the living wage.
The federal government asked the labour unions to demand a more realistic and sustainable minimum wage.
On Thursday, the tripartite committee agreed on N70,000 as the new minimum wage.
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