The Federal Government on Friday increased its new national minimum wage offer to ₦62,000, while labour Union reduced their demand from ₦494,000 to ₦250,000.
This comes after the Minister of Finance, Wale Edun, submitted the cost implication of minimum wage to President Bola Tinubu.
Recall that organised labour, comprising the Nigeria Labour Congress and Trade Union Congress, had embarked on a nationwide strike on Monday to demand an increased minimum wage for workers and the reversal of the recently increased electricity tariffs.
However, the labour union leadership suspended the strike on Tuesday for five days after signing a commitment with the Federal Government to resume negotiations and come up with a new minimum wage within a week.
