The discussions about minimum wage have taken a new turn as Labour is contemplating settling for a N100,000 minimum wage.
This decision comes as the Tripartite Committee on National Minimum Wage gears up for daily meetings over five days to find common ground.
Numerous sources within the labour movement disclosed to The PUNCH that union leaders are considering revising their demand from N494,000 to N100,000.
This shift follows the backlash and debates surrounding their initial proposal, which many deemed as unrealistic and extreme.
According to a statement released by the Minister of Information and National Orientation, Mohammed Idris, the proposed minimum wage would lead to an annual expenditure of N9.5tn, a financial burden deemed unsustainable for the nation.
Despite efforts from the leadership of the National Assembly, labour commenced an indefinite strike on Monday, causing disruptions in economic activities across the country.
Banks, airports, public schools, and courts remained closed, prompting an emergency meeting by the Federal Government to resolve the deadlock.
In a bid to facilitate negotiations, the unions announced on Tuesday the suspension of the industrial action for five days.
This decision came after President Bola Tinubu expressed willingness to consider a national minimum wage higher than N60,000, and the tripartite committee assured its commitment to convene daily until a new minimum wage is agreed upon.
President Tinubu further directed the Minister of Finance, Wale Edun, to present the cost implications for a new minimum wage within two days.
This directive came during a meeting with the government negotiation team, led by the Secretary to the Government of the Federation, George Akume, at the Presidential Villa in Abuja.
While Labour has not formally presented its final offer to the tripartite committee, a senior NLC official, speaking on condition of anonymity, confirmed that the unions would advocate for a N100,000 minimum wage.
