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Minimum Wage Decision Expected as Nigerian Labour Leaders Await President's Response ABUJA, NIGERIA – The discussions on the new minimum wage between the Federal Government and Organized Labour are anticipated to conclude today, with labour leaders keenly awaiting President Bola Tinubu's verdict on their N250,000 proposal. The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) had set a Monday deadline for finalizing the new minimum wage talks. Last Friday, the Tripartite Committee on National Minimum Wage concluded its meetings where the Federal Government and the Organized Private Sector agreed on N62,000, while Labour demanded N250,000. However, the Nigeria Governors Forum declared that any minimum wage exceeding N60,000 would be unsustainable. A labour leader who spoke anonymously on Sunday stated, "We have submitted the report to the president and are waiting for him to make his decision. That is the most important thing and that is what we are all waiting for." The labour leaders, including NLC President Joe Ajaero, are currently attending a labour conference organized by the International Labour Organisation in Geneva, Switzerland. The leadership plans to hold a National Executive Council meeting upon their return, where a decision on a potential strike will be made based on the president's feedback. "We must come back from Geneva first before we can hold a NEC meeting. We are also trying to be careful so the government won't say Labour is inciting citizens against it. We are waiting for the president's decision," added another top NLC official. The labour unions, comprising the NLC and TUC, recently embarked on a two-day nationwide strike to demand a new minimum wage and the reversal of the electricity tariff hike. The strike was suspended for five days after a commitment was made with the Federal Government to resume negotiations and establish a new minimum wage within a week. Following a six-hour meeting between labour leaders and the National Assembly in Abuja, President Tinubu directed the finance minister, Wale Edun, to present the cost implications of a new minimum wage within two days. The finance minister, alongside the Minister of Budget and National Planning, Atiku Bagudu, presented the cost implications at the Presidential Villa on Thursday. The president is currently reviewing the proposal and is expected to make an official announcement soon. When asked about the Monday ultimatum, a source within the NLC said, "We have sent a report to the committee and are expecting the president to act on it. We will hold a National Executive Council meeting regarding the ultimatum when we return from Geneva. It is very important for us to be there, but right now, we are patiently waiting for the decision of Mr President." Organized Labour's recent actions underscore the urgency and importance of establishing a new minimum wage for Nigerian workers. The outcome of President Tinubu's decision will be crucial in determining the next steps for both the government and the labour unions. Related News: Atiku claims to have saved Tinubu's political career Debating the appropriate wage for workers Labour criticizes governors for minimum wage stance The labour leaders and the nation await the president's decision, which will significantly impact the economic and social landscape of Nigeria.

Nigeria Labour Congress Gives Government Two Weeks to Cut Petrol Prices, Resume Wage Talks

October 9, 2026

The Nigeria Labour Congress (NLC) has given the federal government two weeks to reduce petrol prices, begin negotiations for a new national minimum wage and implement outstanding agreements with workers, warning that

Africa·News·Oil & Gas·Top Stories

Cape Town to Host African Energy Week 2026 from October 12

October 9, 2026

More than 10,000 delegates are expected in Cape Town from October 12 to 16 for African Energy Week (AEW) 2026, where African governments, energy companies and international investors will discuss financing, partnerships

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st July 2025

Business News·Currency·Markets·News

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 29th December 2024

What is the Dollar to Naira Exchange rate at the black market, like the Aboki Fx? The exchange rate for the US dollar (USD) to Nigerian Naira (NGN) in the parallel market also known as black market, especially the Aboki Fx as

December 29, 2024

News·World News

Interesting Facts About Steven Cheung, Trump’s Pick For Director Of Communications

President-elect Donald Trump has chosen Steven Cheung as the White House communications director for his second term. Cheung, a longtime ally of Trump, is known for his fiery rhetoric and steadfast loyalty to the former president. His appointment reflects Trump’s preference for

December 29, 2024

Naira Ends Week With Marginal Gain Against Dollar

News

Forex Market Turnover Rises By 42.69% To $14.39bn

Foreign exchange market turnover in Nigeria rose by 42.69 per cent month-on-month to $14.39 billion (N23.95 trillion) in November 2024. This is according to the latest Monthly report released by FMDQ Securities and Exchange platform on its financial market activities. The foreign

December 29, 2024

News·Technology·World News

Trump Asks Supreme Court To delay TikTok Ban Or Sale deadline

President-elect Donald Trump has urged the Supreme Court to extend the January 19 deadline for the sale or ban of TikTok, a move he believes is crucial to preserving the app’s operations while addressing national security concerns. The appeal, filed by Trump’s

December 28, 2024

Naira Falls Against Dollar Across FX Markets

Business News·Markets·News

Why Naira Will Hit N1,804/$1 By 2025 – Report

The Nigerian naira is projected to depreciate further, potentially reaching N1,804.45 per dollar by 2025, according to a recent report by Afrinvest, a Lagos-based investment and research firm. The report titled “Beyond The Rhetorics: Transforming Reforms to Tangibles” outlines key factors driving

December 28, 2024

Analyst Faults Nigerian Govt’s Plan To Build Another Seaport In Lagos As Calabar Port Rots

Finance & Economy·News

Expert Faults Govt’s Plan To Build Another Seaport In Lagos As Calabar Port Rots

Energy expert and public affairs analyst, Kelvin Emmanuel, has criticised the decision of the Nigerian Government to build another seaport in Lagos while abandoning the development of the Calabar Deep Sea Port. He questioned the rationale behind such decision by the Federal

December 28, 2024

Starlink, an Internet service firm owned by billionaire investor, Elon Musk, has announced an increase of its monthly subscription prices in Nigeria.

News·Technology

Starlink Increases Subscription To N75,000 In Nigeria

Starlink, an Internet service firm, owned by billionaire investor, Elon Musk, has announced an increase of its monthly subscription prices in Nigeria. According to a notice to its Nigerian customers, Starlink said that under the new pricing structure the Standard (Residential) will

December 28, 2024

News·Technology

Top Payments Trends To Look Out For In 2025

The global payments landscape is undergoing rapid changes. As technology evolves, so does the way individuals and businesses transact. By 2025, new innovations will define the future of payments, shaping the financial ecosystem in profound ways. This article highlights key trends to

December 28, 2024

News

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 28th December 2024

December 28, 2024

Business News·FEATURES·News

Road To 15% Inflation: Ambitious Targets Or Achievable Goals In 2025?

Nigeria’s inflation reached a 28-year high of 34.6% in November 2024, leaving businesses and households grappling with soaring prices. The Federal Government has set an ambitious target to bring inflation down to 15% by 2025. But can this goal be achieved? Economists

December 28, 2024

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News - Page 481

Nigeria Labour Congress Gives Government Two Weeks to Cut Petrol Prices, Resume Wage Talks

Cape Town to Host African Energy Week 2026 from October 12

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 29th December 2024

Interesting Facts About Steven Cheung, Trump’s Pick For Director Of Communications

Forex Market Turnover Rises By 42.69% To $14.39bn

Trump Asks Supreme Court To delay TikTok Ban Or Sale deadline

Why Naira Will Hit N1,804/$1 By 2025 – Report

Expert Faults Govt’s Plan To Build Another Seaport In Lagos As Calabar Port Rots

Starlink Increases Subscription To N75,000 In Nigeria

Top Payments Trends To Look Out For In 2025

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 28th December 2024

Road To 15% Inflation: Ambitious Targets Or Achievable Goals In 2025?

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