The Nigerian federal government has announced that it will introduce a new minimum wage for workers in 2024.
Mohammed Idris, Minister of Information and National Orientation, disclosed this at Thursday’s end-of-year world press conference in Abuja.
According to him, the government plans to work with organised labour on the proposed new minimum wage.
He, however, did not disclose how much the new minimum wage would be.
“The Federal Government is also working on a new minimum wage for workers, which will come into effect next year,” he said.
Meanwhile, the Nigeria Labour Congress, NLC, has refuted claims that it is in talks with the Federal Government over implementing a new minimum wage.
In his reaction to the Federal Government’s disclosure, the spokesperson of the NLC, Mr Benson Upah, confirmed that the government had indicated an interest in working with labour on a new minimum wage but has yet to commence talks.
According to him, statutorily, the minimum wage has a four-year cycle after which it is supposed to be reviewed.
“The government has signified interest in working with us, but that work is yet to start, certainly not later than early next year. It is a statutory thing with a four-year cycle based on participatory stakeholders’ consultations, including labour, government and employers.”
Speaking on how the union intends to negotiate a new minimum wage, Upah said, “We would not jump the gun. That will not be fair. Nonetheless, the facts are very much in the open – inflation rate, exchange rate, cost of living; the entire basket will influence demands and, possibly, outcomes.”
DAILY POST recalls that the country has fixed 30,000 as minimum wage since 18 April 2019.
However, following the removal of fuel subsidy in June, the Government of Nigeria announced an additional N35,000 wage award for six months.
The development comes as Nigeria’s inflation continues to soar, reaching 28.80 per cent in November.