Wia dis foto come from, Ajuri Ngelale/Facebook
President Bola Tinubu don approve 70,000 naira ($43) as di new minimum wage for Nigerian workers, wit promise say im go dey review di national minimum wage law evri three years.
E also promise to find ways to assist di private sector and di state goments to pay di money.
Di Nigerian leader announce di decision for di meeting e hold wit leaders of di organised labour unions – di Nigeria Labour Congress (NLC) and di Trade Union Congress (TUC) on Thursday, 18 July for di State House, Abuja.
Dis na 8,000 naira ($5) increase from di 62,000 naira ($38) di tripartite committee wey di President bin set up on minimum wage propose.
Di Minister of Information, Mohammed Idris announce di informate as e dey follow State House tori pipo tok.
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E say “We dey happy to announce today say both di Federal Government and di Organised Labour don agree to increase di 62,000 naira ($38) minimum wage proposal.”
Oga Idris add say di president go submit di new minimum wage of 70,000 naira ($43) give di National Assembly for legislation.
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Di tok-tok pesin to di president on Information and Strategy, Bayo Onanuga also confam dis development on im X account.
President Tinubu for im Workers Day speech on 1 May, bin tok say, "Once we agree on a new minimum wage and general upward review, we go make provision for am for immediate implementation."
Wia dis foto come from, @AONANUGA1956/X
Bifor di meeting, labour leaders bin insist on 250,000 naira ($153) minimum wage.
However, afta meeting wit di president, di leaders of di organised labour unions confam say dem don accept di 70,000 naira ($43) minimum wage wey Oga Tinubu approve for Nigerian workers.
President of di Nigeria Labour Congress (NLC), Joe Ajaero tell tori pipo for di State House say, di unions don accept di offer and di reason dem accept am na sake of di oda goodies wey attach to am.
Di President of di Trade Union Congress (TUC), Festus Usifo plus oda representatives of Nigerian workers, wey attend di meeting, also agree say dem accept di offer.
Oga Usifo add say anoda reason why dem accept na becos di president promise a review evri three years as against wetin dey happun in di past.
Di labour leaders and di president bin reach agreement afta dem meet about one week ago.
Dis na afta months of back and forth between di labour unions and one tripartite committee on minimum wage wey di President set up for January, 2024.
Di committee wey dey made up of members from di federal, state governments and di Organised Private Sector bin propose 62,000 naira ($38), but labour tanda on 250,000 naira ($153) as di new minimum wage for workers wey currently dey earn 30,000 naira ($18) as minimum wage.
Di labour leaders and di presidency bin reach agreement afta tok-tok between di two parties in di last few weeks.
Dis na afta months of failed toks between labour unions and one tripartite committee on minimum wage wey di President set up for January, 2024.
On 11 July, di president bin meet wit labour leaders and call for realistic expectations on top di minimum wage mata.
“You gatz cut your coat according to available cloth. Bifor we fit finalise di minimum wage process, we gatz look di structure,” Tinubu bin tok.
Meanwhile, di Edo State Govnor Godwin Obaseki bifor now don approve new minimum wage for civil servants for di state.
Di govnor bin increase di minimum wage from 40,000 naira ($24) to 70,000 naira ($43) and e tok say e go take effect from 1 May, 2024.
Cross River State Govnor Bassey Otu also announce payment of 40,000 naira as di living wage for di least paid civil servants for di state during di 2024 Workers’ Day celebration for Calabar, di Cross River State capital.
"I wish to announce say di least paid worker for Cross River State Civil Service go begin earn di sum of 40,000 naira ($24) only as a living wage," e tok.
E say dem don begin work out modalities for immediate implementation and e charge evri worker for di state to respond well to dis new wage by doubling dia efforts for dia assigned duties.
Financial analyst Victor Aluyi, say even though dis over hundred percent increase for di minimum wage na “necessary adjustment” sake of di many economic kasala wey di kontri don carry eyes see inside di last two years.
E say even though na hundred percent for di lowest level of worker, e remain to see how goment wan take adjust di new wage for workers wey dey higher level.
“Dis na like minimum wage right? What of pesin wey dey level 10 for example, wetin be di adjustment? So, e no clear to say na di same adjustment wey you get from 30 to 70k, na im you go get across. I no sure say dat na wetin go happun.”
According to Aluyi, di new minimum wage go lead to two main consequences: one na more inflation and di oda na di stress wey goment go go through to find di money.
Nigeria economy don face plenty challenges wey don lead am into serious inflation and, e never clear how soon di economy go stabilise.
Wit di introduction of more money to di system, Aluyi say make pipo expect more inflation. Although im feel say di inflation fit no too much compare to di one wey di economy dey pass through already.
“Di possibility say e go cause inflation dey dia, however, we already dey face inflation. So, I no sure how significant di new minimum wage go be on inflation,” im tok.
Di 2024 budget no get any provision for di new minimum wage. Therefore, Nigeria goment go gatz find ways to raise di money to pay di new wage.
Di financial sabi pesin say, for sure goment gatz find money to pay for am, and dis mean say dem go gatz go borrow money maybe from di fiscal market for dis purpose.
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