The Nigerian government increased its minimum wage offer to N62,000 while labor proposed N250,000, highlighting differences in the ongoing dispute. This article explores the rationale, implications, and potential impact of a significant minimum wage increase on the economy and workers.
After lengthy discussions on Friday, organized labor proposed raising the minimum wage to N250,000. In response, the Federal Government increased its offer from N60,000 to N62,000.
This development marks a small adjustment by the government, but it remains significantly lower than the unions' demand. These negotiations are part of ongoing efforts to agree on a new minimum wage that considers both the economic pressures on workers and the government's financial constraints.
