The past few days have been a lot for Nigerians, from the working class to the small business and big business owners. A lot of people have complained that it is now even harder to do business or buy basic things and it is even more reason workers should be paid well and most importantly, on time.
Since the beginning of the year, the Labor Union and the Federal Government have gone back and forth trying to implement a new minimum wage, one that will meet and suit the needs of the people.
Recently, the president set up a new committee to look into the project. Now, members of the Labor union are reviewing negotiations with the federal government which means the plans will soon fall into place.
The national minimum wage which has been N30,000 no longer fits into the current state of the economy and so, workers are requesting an increase that will cushion the effect of the inflation that has risen to 28.9% in December.
“The far-reaching consequences of inflation on the disposable income of the average worker emphasizes a broader economic challenge that warrants urgent attention. With prices on a continuous upswing, the true value of wages is eroded, resulting in a reduction of purchasing power for individuals already struggling with the rising cost of living,” the Director-General of Nigeria Employers’ Consultative Association, Adewale Oyerinde said to Punch during an interview.
According to the Vice President, the 37-member tripartite committee that was formed is required to quickly arrive at a solution because the N30,000 minimum wage has been scheduled to end by March 2024.
With the way things are currently going, the hopes of federal workers are currently being raised because the decision of the federal government to review the minimum wage is coming at a very good time.
“The review of the minimum wage is coming at the right time when prices of food have extremely skyrocketed. Hopefully, the Nigeria Labour Congress would be able to negotiate well with the Federal Government this time,” a civil servant reportedly said.
Although the government last year approved a monthly wage of N35,000 for its workers until the implementation of the anticipated new minimum wage, workers in the Federal Civil Service revealed that the government only disbursed the salary of N35,000 for September.
