Negotiations over Nigeria’s minimum wage reached a stalemate on Friday after lengthy discussions between organised labour representatives and the Federal Government. The significant gap between proposed figures raises concerns about the possibility of a prolonged deadlock.
Organised labour unions shocked negotiators with a revised demand of N250,000 ($558) for the monthly minimum wage. This substantial increase from their previous proposal highlights their determination to secure a significant improvement in worker compensation. The high demand is likely a strategic move, anticipating negotiations and possible concessions.
The Federal Government, in response, increased its earlier offer of N60,000 ($133) to N62,000 ($138). This upward revision suggests a willingness to compromise but falls far short of the N250,000 requested by labour unions.
The vast difference between the two parties’ positions presents a significant hurdle. Labour unions argue that the current minimum wage is insufficient due to rising inflation and the high cost of living. The government, on the other hand, expresses concerns about the financial sustainability of a substantial raise, fearing the impact on state budgets and the overall economy.
