Minimum Wage: Organized Labour proposes N615,000, prioritizes basic needs

In a move aimed at addressing the economic challenges faced by Nigerian workers, the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have jointly proposed a new minimum wage of N615,000.

This landmark proposal was detailed in a statement released by the NLC on Friday, shedding light on the breakdown of expenses prioritized within the proposed wage structure.

According to the statement, the proposed minimum wage allocation places significant emphasis on essential needs, with Food and Transportation garnering the largest share. Specifically, N270,000 is earmarked for thirty days’ worth of food expenses, while N110,000 is allocated for transportation costs.

Additional allocations include N20,000 for Electricity/Power, N40,000 for Accommodation, N10,000 for Utility Water, N35,000 for Kerosene/Gas, N20,000 for Clothing, N50,000 for Education, N10,000 for Sanitation, and N50,000 for Medicals, culminating in a total sum of N615,000.

This proposal follows earlier statements by Festus Osifo, President of TUC, and Joe Ajaero, President of NLC, who separately disclosed the details of the N615,000 minimum wage.

In light of the escalating cost of living exacerbated by a soaring inflation rate of 33.20 per cent in March 2024, the call for an increase in the minimum wage gains further urgency. Acknowledging the plight of Nigerian workers, President Bola Tinubu assured in his May Day message that an upward review of the minimum wage is imminent.

As the nation grapples with economic challenges, the proposed minimum wage offers a ray of hope for workers striving to cope with the prevailing economic realities.