The Federal Government has assured Nigerian workers that the new minimum wage will take effect from May 1, 2024, despite ongoing negotiations by the Tripartite Committee on National Minimum Wage.
Speaking at the May Day celebration in Abuja on Wednesday, the Minister of State for Labour, Nkeiruka Onyejeocha, addressed the concerns of workers, emphasizing that although the negotiations are yet to conclude, workers will not lose out as the new minimum wage implementation date remains unchanged.
Onyejeocha expressed regret that the new national minimum wage was not finalized before the May Day celebration, but she assured workers that extensive consultations are ongoing to expedite the process and ensure the timely release of the document.
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have consistently urged the government to expedite the upward review of wage awards. In recent times, both organized labor groups have advocated for a new minimum wage of N615,000, citing the economic realities and high cost of living in Nigeria.
The unions highlighted that the current minimum wage of N30,000 is inadequate to sustain the average Nigerian worker, noting that not all state governors are adhering to the current wage award.
The current minimum wage, which expired in April, was set five years ago after the Minimum Wage Act of 2019 was signed by former President Muhammadu Buhari.
The Act stipulates a review every five years to align with the changing economic conditions faced by workers.
The assurance from the Federal Government regarding the implementation of the new minimum wage on May 1, 2024, provides some relief to Nigerian workers awaiting an increase to cope with the rising cost of living and economic challenges.