The Nigeria Labour Congress, NLC, has declared that the implementation of the minimum wage for Nigeria workers will begin on May 18th 2024.
The federal government and Organized Labour on Thursday met in Abuja where they settled for N70,000 as the new minimum wage.
President of NLC, Comrade Joe Ajaero stated this during an interview on Thursday Channels Television ‘Politics Today’, ahead of the federal government National Executive Council (NEC) meeting.
The NLC President explained that draft copy of the wage adjustments would be sent to the National Assembly on Tuesday July for 23rd legislative input.
According to him, “The last minimum wage expired on the 18th of April 2024. So, the arrears of the new minimum wage implementation will begin on the 18th of May to July 18th 2024.
He stated that the leaders of Organized Labour Unions will hold National Executive Committee shall meet soon agree on a template for consequential wage adjustments for Nigeria workers nationwide.
Ajaero said, “we will be following up with other incentives which though are promisry note, the new minimum wage was anchored on something”.
He said, “In the history of negotiation in Nigeria or elsewhere, your ability to be able to negotiate for 130 per cent or more, has a lot to say. There are other Stakeholders,. including the private Sector, SMEs are also there putting pressure.
“The ease of doing business is another thing. The energy cost, foreign exchange and others were also taken into consideration.
“While waiting that we are going to review this shorter than it ought to have been, we need the anchor the new minimum wage on something before going back.
“If we agree to all those things we consider as a promisry note, are taken into consideration, and implemented, N70,000 for the least paid worker may have value. It’s not usually about the amount. There was a time, minimum wage was N125.00 in Nigeria. It made sense”, Ajaero recalled.
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