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Nothing less: Labour settles for N100,000 minimum wage as NEC meets Monday

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Organised Labour has said it will not accept anything less than N100,000 as minimum wage as the negotiations between its representatives and the Federal Government heighten, according to reports.

Several impeccable sources from both the Trade Union Congress and Nigeria Labour Congress stressed that the Federal Government and the organised private sector should not expect labour to accept anything less than a six-digit offer.

 

The unions said the government was not serious about the negotiations, adding that the shift from N48,000 to N57,000 was too meagre to be considered as ‘shifting grounds’.

 

They noted that the promise made by President Bola Tinubu when he became President and on Workers’ Day was that the Federal Government would pay a living wage, adding that N57,000 did not fall into that category.

 

The sources also noted that they were going to have a national executive council meeting on Monday in preparation for the meeting with the Tripartite Committee on Minimum Wage on Wednesday.

 

The meeting on the ongoing negotiations on the new minimum wage was adjourned till Wednesday after Organised Labour rejected the new N54,000 minimum wage proposal by the Federal Government.

 

It would be recalled that the Federal Government upped its offer from its earlier proposed N48,000 to
N54,000.

Tuesday’s meeting came as a result of the walkout staged by members of Organised Labour following the proposal of N48,000 as minimum wage by the Federal Government during last week’s meeting.

 

During that meeting, the OPS had also proposed N54,000 while labour insisted on its N615,000 living wage demand, which it later reduced to N497,000.

 

Sources who attended the follow-up meeting on Tuesday disclosed that the Federal Government upped its offer from N48,000 to N54,000.

 

“Well, during the meeting, the government increased its offer from N48,000 to N54,000. However, labour rejected that offer, and the meeting has been adjourned till Wednesday,” a source, who asked not to be named, said.

READ  Tripartite  committee on new minimum wage meets in Abuja

 

Asked whether the government’s side was showing any sign of seriousness, the labour leader said, “No seriousness at all. Even state governors did not show up. Those who represented them, like Bauchi and Niger states, did not have the mandate to speak on their behalf.

 

“As regards the private sector, we did not get to them before the meeting was adjourned but we hope they also increase their initial offer.”

 

Organised Labour on Monday reiterated its May 31, 2024 deadline for the implementation of the new minimum wage.

 

The National President of the Nigeria Labour Congress, Joe Ajaero, had insisted on N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the current economic situation and the needs of an average Nigerian family of six.

 

He blamed the government and the OPS for the breakdown in negotiation, saying, “Despite earnest efforts to reach an equitable agreement, the less than reasonable action of the Government and the Organised Private Sector has led to a breakdown in negotiations.”

 

In a statement released at the end of the jointly held NEC meeting by the NLC and TUC which was signed by Ajaero, and the TUC President, Festus Osifo, the unions said they acknowledged the ongoing negotiations between the NLC/TUC, the OPS and the Federal Government regarding the new national minimum wage.

 

Speaking on the breakdown in negotiation, the Financial Secretary of the NLC, Hakeem Ambali, said the percentage of the ground shifting by Organised Labour had been substantial, moving from N615,000 to N497,000.

 

“When you look at the percentage of ground shifting by Organised Labour, you can see that it is very substantial. The FG’s shifting is still very meagre. We are looking for the FG to reason and fulfil its promise of paying a living wage to Nigerian workers. That is their position.

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“The meeting is adjourned till Tuesday next week. Our position is N497,000. We are watching the FG and other partners in the collective bargain to shift ground. It is now their turn to shift ground substantially and not the piecemeal figure that is being given. That is not what labour is expecting. Any approval that is not up to six digits is nothing to consider by labour,” he said.

 

Another senior labour leader who chose not to be named said if the Federal Government and the OPS propose an offer of N100,000, Organised Labour might consider it.

 

The source said, “They haven’t even brought the N100,000 that the experts they consulted have recommended. Anything less than N100,000 is an insult to us as workers.”

 

Another national leader of the TUC who chose to be anonymous because he was not authorised to speak on the matter said it was disappointing for the OPS to take sides with the FG.

 

He said, “The Organised Private Sector representatives that have followed the government to offer workers N57,000 as minimum wage are doing themselves more harm than good. The reason is that taxation is killing the OPS. You cannot stimulate the economy with heavy taxation. For instance, if the Organised Labour decid

es to go on strike today, the government would not suffer as much losses as the OPS. Theirs would be colossal.

“Government has a way of recouping their loss but the OPS would run away from the economy and close shop. It is expected that the OPS and FG see beyond the partnership. A sensible OPS would work with Organised Labour. The reason is that even those working in the OPS are labourers. No amount of investment you put in, labour plays a major role among the factors of production.”

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Speaking further, he said, “They need to also know that whatever they produce today is going to be consumed by other workers. The government is making use of electricity and is the one not paying. But, a worker buys and pays. That demoralises the economy. What we are saying is nothing but the reality.”

 

The labour leader further added that anything short of a six-figure minimum wage would be rejected by Organised Labour.

 

The source added, “Anything short of six figures in the national minimum wage negotiation cannot guarantee industrial peace and harmony. The implication of that is that, when you put the amount of manpower loss, vis-à-vis the financial implication, the government would lose heavily. We don’t have guns but we have the right to withdraw our services.”

 

The source further stressed Organised Labour would not fail to go on strike if the government rescinded its promise.

 

He said, “Even the International Labour Organisation voted to strike as a fundamental right. It therefore means that even in a court of law; strike is our right. That is why we have sent that notice for them to know. We have given them ample opportunity to decide on time.

 

“We are ready to shift ground but the government must be ready to negotiate a minimum wage with sincerity. This is because the ability to pay is not the problem but the willingness to pay. The government must learn to cut the cost of governance.”

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Labour convenes emergency meeting to discuss FEC’s decision on minimum wage

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Members of the organised labour comprising both the Nigeria Labour Congress and the Trade Union Congress, have convened an emergency meeting over the decision of the Federal Executive Council to step down the memo on the minimum wage.

 

The meeting, according to a top official at the NLC headquarters, will be held at Labour House at 10:00am on Wednesday.

 

The official said it is meant for discussion on the decision of FEC to step down the memo on minimum wage.

 

It would be recalled that the Minister of Information and National Orientation, Mohammed Idris, said all 39 items on the agenda of the meeting were all taken except the memo on the minimum wage.

 

Idris had disclosed that there was a report by the Tripartite committee which comprises of local government, States , NLC/ TUC and the federal government, adding that the committee submitted its report, and there was a memo to that effect.

READ  Naira Swap: Reps may reconvene before election if crisis continues, says Gbajabiamila

 

The minister, however, said Council could not take a decision on it because it involves Local Government, states, FG, Organized Private Sector and Labour unions.

 

He, therefore, said the memo on the new minimum wage was stepped down so that the President, Bola Tinubu could consult widely before a final submission is made to the National Assembly.

 

Meanwhile, the NLC official, who spoke to Daily Trust Tuesday night said the entire leadership of the two labour centres would meet and take a unanimous position before the President takes consultation to them.

 

“Even though we had a position already, we will meet tomorrow morning, (Wednesday) to fine-tune our position before we’re consulted. It is important for us,” the top official said anonymously because he wasn’t authorised to speak to the media.

 

Members of the organised labour had earlier this month paralysed economic activities of the country with its indefinite strike that lasted only two days which declared to press home their demands on minimum wage.

READ  Tripartite  committee on new minimum wage meets in Abuja

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Worst of naira volatility over, says Cardoso

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Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the apex bank is “relatively pleased” with the progress it has made in stabilising the naira.

 

Cardoso, who spoke in an interview with Bloomberg TV on Tuesday, said he believes the excessive volatility may be a thing of the past.

 

He also said the financial regulator will continue to work hard, adding that it is a work in progress.

 

“I do believe that we have more or less seen the worst in terms of volatility,” Cardoso said.

 

“We are also very alive to observing the way and manner in which that market operates and ensuring that it gives the best value that can be accomplished using certain tools.”

 

Cardoso further said reviving confidence in the naira is crucial for Nigeria to lure investors.

 

“We’re relatively pleased with where we are,” Cardoso added.

 

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He also said the central bank needs to do more, adding that “it’s continuous work in progress”.

 

“And we will do everything possible to ensure that we continue to manage the macroeconomic fundamentals that affect that,” he said.

 

Since the beginning of June, the naira has been trading in a narrow range between N1,473 and N1,490 per dollar at the official market.

 

However, the naira fell to N1,500/$ on Tuesday – from N1,488 traded on June 24.

 

‘DATA TO DETERMINE CBN’S MPC STANCE ON INFLATION’

The publication said as the annual inflation rate starts to rise at a slower pace, Cardoso refused to be drawn on whether this could signal the end of the tightening cycle that began in May 2022 — as CBN’s monetary policy committee (MPC) prepares to meet in July.

 

CBN has been increasing interest rates since May 2022, with the monetary policy rate (MPR) — which is the benchmark for banks’ lending rate — reaching 26.25 percent in May this year.

READ  BREAKING: Labour insists on N494,000, rejects FG’s fresh N60,000 minimum wage offer

 

In May, the inflation rate rose to 33.95 percent compared to 33.69 percent in April.

 

Cardoso said data will determine the stance of the MPC on inflation movement.

 

“Data will direct whether they see further hikes or not,” he said.

 

“The MPC has been very clear in stating that they see inflation as a major impediment for the future of Nigeria, and they will do everything possible to ensure that they keep inflation in check and fact bring it down as reasonably as they can and I don’t see that changing.”

 

He also said the apex bank’s steps and fiscal reforms undertaken by President Bola Tinubu’s administration have assisted the nation in securing much-needed liquidity.

 

The World Bank earlier this month approved $2.25 billion in funding to support Nigeria’s economic reforms helping boost its foreign exchange reserves.

 

The governor said CBN would support further measures to build the country’s reserves including a eurobond issue.

READ  Minimum wage: Labour refuses to shift ground, insists on N497,000, negotiation continues Tuesday

 

“We should have a diversity of sources,” he said.

 

Cardoso said it should not just be the eurobond market or just be foreign portfolio investors, but it should be a variety of different things.

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Kano Gov rescues Bayero’s daughter from eviction in Lagos apartment

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Governor Abba Yusuf of Kano state, on Tuesday, settled the bill for the rent of Kano Princess and her mother at Morning Side Suits in Victoria Island, Lagos.

 

They were stranded until the Kano State Government came to their rescue, the Governor’s spokesman, Sanusi Bature, said.

“The Governor of Kano state Alhaji Abba Kabir Yusuf has again extended his humanitarian gesture to the daughter of late Emir of Kano, Zainab Jummai Ado Bayero, her brother and her mother when he settled the rent bill of the Kano Prince and Princess few hours to the deadline of the eviction notice they were served by the apartment in Lagos,” Bature said.

Bature said he arrived Lagos in the early hours of Tuesday to meet with the General Manager of the apartment where the Ado Bayero family have been living since early this year.

 

The General Manager, Sunel Kumar, had vowed to evict them by 3pm on Tuesday if the rent was not renewed.

READ  FEC may consider new minimum wage for workers today

 

“The Governor’s intervention followed an outcry in the media by Princess Zainab Bayero on behalf of her mother and brother who were neglected by the royal family after the death of the late Ado Bayero.

 

“Zainab, her brother and her mother have been facing difficult times since the demise of the late Emir of Kano Alhaji Ado Bayero due to the denial of their inheritance.

 

“Until May 23rd, 2024, Zainab’s half brothers Aminu Ado Bayero and Nasiru Ado Bayero were the emirs of Kano and Bichi emirates in Kano state,” Bature said.

 

It was gathered Zainab Ado Bayero is a documentary producer who recently worked on the personality profile and documentary of her late father, Ado Abdullahi Bayero.

 

“You came at the right time, we were about to be forcefully evicted from the facility for our inability to pay the rent, they said today is final, we must move out by 3:00 pm and you came just fifteen minutes to the time, they have already mobilised youths to remove us out of the apartment, Alhamdulillah for your arrival,” Bature quoted Zainab as saying.

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Bature, who represented Governor Yusuf in the transaction, said: “the Governor’s humanitarian intervention was due to the fact that many citizens of Kano feel that the matter did not portray the royal family and Kano in good light.

 

“They are not only members of the royal family, they are our Muslim sisters and brother, currently in need,” Bature stated.

 

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