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FG Proposes N62,000 Minimum Wage Amid Labour Negotiations

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FG Proposes N62,000 Minimum Wage Amid Labour Negotiations

iexclusivenews – In a significant development, the Federal Government has proposed a new national minimum wage of N62,000.

This proposal comes amidst ongoing negotiations with organized labour, which has notably reduced its initial demand from N494,000 to N250,000.

Government’s Proposal

The Federal Government’s latest offer of N62,000 as the new minimum wage marks a substantial increase aimed at addressing the economic challenges faced by workers.

This proposal is seen as a step towards improving the living standards of the workforce.

Labour’s Response

Organized labour, which initially demanded a minimum wage of N494,000, has shown flexibility by lowering its demand to N250,000.

This adjustment reflects a willingness to reach a compromise that benefits both parties.

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Tripartite Committee’s Stalemate

Despite the new proposals, the Tripartite Committee on New National Minimum Wage has adjourned without reaching a consensus.

The lack of agreement highlights the complexities involved in balancing the interests of the government, labour unions, and the private sector.

The organized private sector has expressed its support for the government’s offer of N62,000.

This backing is crucial as it underscores the feasibility of the proposed wage increase within the broader economic context.

Conclusion: The ongoing negotiations and the proposed new minimum wage of N62,000 are pivotal in shaping the future of the workforce in Nigeria.

As discussions continue, stakeholders remain hopeful for a resolution that ensures fair compensation for workers while maintaining economic stability.

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