The Federal Government has increased its offer of a new national minimum wage to N62,000, while organized labour has reduced its demand from N494,000 to N250,000.
Already the Tripartite Committee on New National Minimum Wage has adjourned as there was no consensus reached by the participants at the meeting.
It is noteworthy that the organized private sector has backed the government offer of N62,000.
NGF Acting Director on Media and Public Affairs, Halima Ahmed, in a statement on Friday in Abuja, sympathised with the labour unions in their push for higher wages.
While labour is demanding N494,000 as minimum wage, the government, through a tripartite committee, is proposing N60,000.
The NGF holds that the N60,000 minimum wage proposal is not sustainable and cannot fly.
“It will simply mean that many states will spend all their Federal Account Allocation Committee (FAAC) allocations on just paying salaries, with nothing left for development purposes.
“In fact, a few states will end up borrowing to pay workers every month. We do not think this will be in the collective interest of the country, including workers,’’ she said.
The governors had urged the concerned parties to settle for an agreement that is sustainable, durable, and fair to all other segments of the society, who have legitimate claim to public resources.
President Bola Tinubu had directed the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to formulate a new minimum wage and its cost implications within two days for presentation at subsequent meetings with labour.
Following a 48-hour ultimatum issued to him by President Bola Tinubu, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday, submitted the projected cost implications of implementing a new national minimum wage.
The finance minister’s report is said to outline several potential new minimum wage levels along with the anticipated fiscal impacts on the federal budget of each option.
