Minimal wage: Our 494k demand is just not fixated – TUC president

Minimal wage: Our 494k demand is just not fixated  – TUC president

Festus Osifo, the president of the Commerce Union Congress has stated the N494 thousand minimal wage demand is just not a set wage, noting that the organised labour went into the negotiation desk with its “greatest case situation”.

Osifo who featured in an interview on Channels Tv on Tuesday stated the issues of the labour is the worth of the wages and never essentially the quantity acknowledged.

He added that the organised labour arrived on the minimal wage given the financial situations of the nation, stressing that the President Bola Tinubu’s macroeconomic insurance policies are straining the pockets of Nigerians, ensuing within the wage evaluation.

“We aren’t fixated on what we’ve got proposed. The federal government knew. However there are ideas you employ in establishing what the suitable worth needs to be,” Osifo stated.

“When you’re going for negotiation, you go along with your greatest case situation. We’ve gone with ours; it’s left with the federal government to come back with theirs,” he added.

Many economists in addition to different stakeholders have continued to touch upon the potential of the federal government to afford the minimal wage demand by the labour particularly as many states nonetheless battle to pay the N30,000 set since 2019.

The federal authorities had stated the proposed quantity would price it over N9.5 trillion yearly which may consequently cripple the financial system.

Kingsley Moghalu, a former deputy governor of the Central Financial institution of Nigeria, stated the nation’s degree of productiveness can’t assist a N400,000 or N500,000 minimal wage the organised labour is demanding.

The political economist in an announcement on his X account on Tuesday really helpful a minimal wage of between N75,000 and N100,000 to keep away from a heightened inflationary stress.

The Nigeria Labour Congress (NLC) and the Commerce Union Congress (TUC) had launched into strike grinding all financial actions within the nation to a halt on Monday in a transfer to drive residence their calls for.

Nevertheless, as a result of federal authorities emergency intervention, the commercial motion was known as off on Tuesday for the following 5 days as negotiations on the brand new minimal wage proceed.

Tinubu directs Edun to organize new minimal wage template in two days

President Bola Tinubu has directed Wale Edun, the minister of finance to current the fee implications for a brand new minimal wage inside two days.

Tinubu gave the order at a gathering with the federal government negotiation workforce led by George Akume, the secretary to authorities of the federation, on the presidential villa in Abuja.

The organised labour had initially proposed N615,000 as the brand new minimal wage earlier than decreasing it to N497,000 and now N494,000 whereas the federal government is figuring out what it could be capable of afford.

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