The Trade Union Congress (TUC) President, Comrade Festus Osifo, has reportedly stated that the leadership of organized labor is waiting on President Bola Tinubu’s input over the new minimum wage, according to a Vanguard article.CONTINUE FULL READING>>>>>
Speaking at a one-day retreat organized by the National Institute for Legislative and Democratic Studies (NILDS), Osifo emphasized that significant efforts have been made by labour leaders to advance the minimum wage negotiation within a short timeframe.
Osifo highlighted the remarkable progress compared to previous negotiations, noting that the last minimum wage discussion, concluded in 2019, took nearly two years to complete and implement. He pointed out that the current negotiation process has been more efficient, with the Organized Labour initially setting a three-to-four-month timeline for reaching an agreement.
According to Osifo, the Tripartite Committee made its recommendations to the government by the end of May. However, over a month later, they are still awaiting a response. He explained that the government indicated President Tinubu’s desire to conduct further consultations with Organized Labour, the Organized Private Sector (OPS), and state and local governments before finalizing the new minimum wage decision.
During his address, Osifo urged the National Assembly to expedite the passage of the new minimum wage into law, stressing the importance of ensuring a living wage for Nigerian workers. He commended the swift progress made so far, stating, “The current leaders of the workers have made tremendous efforts to reach this stage of the minimum wage negotiation within a short time.”
Osifo reiterated that the process of setting a new minimum wage involves a tripartite committee arrangement, and labour leaders are prepared to present their case to President Tinubu once the consultations are complete.
The labour community remains hopeful that the ongoing consultations and subsequent legislative actions will lead to the implementation of a new minimum wage that reflects the economic realities faced by Nigerian workers.CONTINUE FULL READING>>>>>
