Nigeria's Minimum Wage Renegotiation Set for July 2024

The organized labor in Nigeria, represented by TUC Deputy President Jimoh Oyibo and NLC President Joe Ajaero, announced that renegotiations for the national minimum wage will begin in July 2024. The current National Minimum Wage Act is set to expire in early 2027.

Oyibo stated that the Nigeria Governors' Forum has proposed a new national minimum wage of one hundred thousand naira, aimed at improving the purchasing power of workers amid rising global inflation. Ajaero emphasized that the current wage structure does not reflect Nigeria's economic reality, as inflation has led to increased food prices and transport costs, worsening living conditions for workers nationwide.

The NLC's demands extend beyond wage adjustments, calling for immediate relief measures for workers facing economic hardship. The negotiation process will involve a tripartite arrangement with government, organized labor, and private sector stakeholders.

NECA Director General Adewale Smatt Oyerind urged for early consensus among stakeholders to achieve an acceptable outcome.