by Fiona Nanna, ForeMedia News

Tuesday 4th June 2024,

7:00PM

In a welcome development, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have agreed to suspend their nationwide strike for five days Punch Newspaper. This decision comes after a crucial meeting with the federal government on Monday.

The strike, which began on Monday, virtually paralyzed economic activity across the country. The unions embarked on the industrial action due to a deadlock in negotiations over a new minimum wage. Labour argued that the current minimum wage is inadequate due to rising inflation, and demanded a significant raise Nairametrics.

According to reports from Channels TV, a key outcome of the meeting was President Muhammadu Buhari’s commitment to establishing a new minimum wage exceeding N60,000. This represents a positive step forward, considering the government’s earlier offer of N60,000 which the unions deemed insufficient.

Furthermore, to expedite the process of reaching an agreement, the Tripartite Committee, which includes representatives from government, labour unions, and the private sector, will convene daily for the next week to finalize a mutually agreeable National Minimum Wage.

With the suspension of the strike, government and private offices are expected to resume normal operations. Additionally,both parties have agreed that no worker will face repercussions for participating in the industrial action.

Previously, the NLC and TUC had proposed a new minimum wage of N615,000, which was later revised to N419,000. However, the government’s initial offer of N60,000 remained a sticking point.

This temporary truce offers a glimmer of hope for a swift resolution to the minimum wage impasse. The daily meetings of the Tripartite Committee over the next week will be crucial in determining the final outcome and establishing a new minimum wage that meets the needs of both workers and the economy.