UPDATE On Minimum Wage: ANOTHER Proposed New Minimum Wage

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TRIPARTITE Committee inaugurated by the Federal Government has recommended a new minimum wage in their latest proposal.

After a critical examination of necessary parameters including political and economic consideration, the committee arrived at N60,000 as the minimum wage.

In a post by Bayo Onanuga available to SOJ WORLDWIDE Correspondent, the organized labour demanded N250,000 as minimum wage.

“Statement by the Tripartite Committee on Minimum wage.

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6.6 Recommendations of a New National Minimum Wage

6.6.1 The Proposed New National Minimum Wage.

Having critically examined the National Minimum Wage using all necessary parameters, and having applied the social, economic and political considerations, as well as relevant ILO Conventions and international best practices, the Committee agreed that:

(i) there is need for an upward review of the present National Minimum Wage;

(ii) the advantages of the upward review of the National Minimum Wage outweigh the disadvantages; and

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6.6.2 in view of the above, the Committee kindly invites Mr. President to:

i. note that the Committee adopted the motion proposing N62,000 (sixty-two thousand naira) per month as a new National Minimum Wage having considered all other factors; and

ii. note that the Organised Labour insisted on N250,000 (two hundred and fifty thousand) per month.

Recommendation
The Committee hereby presents (a). N62,000 (sixty-two thousand naira) per month as agreed by Government and Organised Private Sector (OPS) with policy incentives and other conditions made by States and the Organised Private Sector; and (b) N250,000.00 (two hundred and fifty thousand) per month as offered by the Organised Labour (OL) as the recommended new National Minimum Wage for consideration.”

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