Strike averted as new minimum wage proposed   

06 November 2018 : This morning, the minimum wage tripartite committee completed its proposal for a new national minimum wage, which would be forwarded to the Presidency today. Although the proposed figure has not been disclosed, the labour union had previously demanded a wage of at least N30,000. The strike action initially planned for today has been called off, easing concerns over fuel and transport availability in some parts of the country. Although the agreement of a new minimum wage could be seen as a triumph, federal and state governments have found it difficult to meet their current wage demands, with state governments having to borrow funds to meet their current wage bills. Likewise, wages and salaries accounted for 70% of federal government revenues in 2017, and any increase in minimum wage would push this higher. 

Reporting for EasyKobo on Tuesday , 06 November 2018 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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