Federal Government Initiates Talks for New Minimum Wage

The Federal Government has begun preliminary consultations aimed at negotiating a new national minimum wage to alleviate the economic challenges faced by Nigerian workers. Dr Kamil Shoretire, the Permanent Secretary of the Federal Ministry of Labour and Employment, announced this on Tuesday in Abuja during a workshop for labor correspondents.

While a formal timetable for the negotiations has not yet been established, Shoretire confirmed that discussions among relevant stakeholders are already taking place. The current national minimum wage, set at N70,000 in 2024, is under scrutiny as labor unions call for a significant increase to N500,000, citing rising costs of living and decreased purchasing power.

Additionally, organized labor is demanding an immediate wage award to help workers cope with economic pressures, particularly due to increased transportation and food costs linked to higher fuel prices. The government is also engaging with sectors experiencing salary disputes to address outstanding labor issues.