Minimum Wage: “We Known N494k Cannot Be Afforded”, Labour Opens Up in Video

Minimum Wage: “We Known N494k Cannot Be Afforded”, Labour Opens Up in Video …C0NTINUE READING HERE >>>

Festus Osifo, the president of the TUC, has said that the organised labour was aware that everybody couldn't pay their N494,000 demand for the minimum wageOsifo posited that the government was aware that organised labour was not fixated on its demand for the new minimum wagethe TUC president then stated that their negotiations were based on certain principles such as inflation, exchange rate and others

Organised labour in Nigeria has disclosed that nobody or organisation can afford their demand for N494,000 as minimum wage.

Speaking on Channels TV on Tuesday night, June 4, Festus Osifo, the president of the Trade Union Congress (TUC), made the disclosure, stating that it was the existing principles that would determine what they and the government would conclude on as the new minimum wage.

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Minimum Wage: Labour clarifies on N494k demand
Photo Credit: @NLCHeadquarters, @officialABAT
Source: Twitter

“They know very well that we are not fixated on N494,000, and we also know on our part that N494,000 cannot be afforded by everybody from different spectre; we understand that.”

According to Osifo, the number one principle is inflation, net present value, and exchange rate. He stressed that their negotiation is based on science and art principles, which put all factors into consideration on the table.

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Minimum wage: How labour started strike

On Friday, May 31, organised labour said it would embark on an indefinite nationwide strike over the federal government's refusal to increase the N60,000 proposed new minimum wage.

Joe Ajaero, the president of the NLC, disclosed that the strike would commence on Sunday, June 2, 2024.

In a statement, Ajaero and his counterpart in the TUC, Festus Osifo, expressed their concerns and disappointment over the failure of the government to come to a conclusion and pass the new National Minimum Wage Act into law.

Source: EllaNews

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