Mr. Ajayi Kadri, Director-General of the Manufacturing Association of Nigeria (MAN), announced that the organized private sector has agreed with the federal government to set the new minimum wage at N60,000.
This revelation came during an interview with reporters on Saturday in Abuja.
Kadri clarified that the ongoing discussions between the government, private sector, and labor unions focus on establishing a minimum wage, which represents the lowest wage that can be paid to any worker in the country, rather than a living wage.
He acknowledged the challenging economic environment impacting both labor and private businesses, which complicates meeting the demands of the labour union.
“Negotiating a minimum wage in the current economic climate is extremely difficult,” Kadri noted. “Government, labor, and the organized private sector all recognize that the macroeconomic conditions are unfavorable, compounded by global economic disruptions and necessary government reforms.”
He emphasized that from the onset of negotiations, it was clear to all parties—the government, labor, and organized private sector—that they would be navigating a difficult landscape.
“Both the organized private sector and the government have proposed N60,000 as the minimum wage,” Kadri explained. “It’s crucial to understand that this figure represents the minimum wage, the base amount we will pay the least compensated workers in the country. This negotiation is about setting a minimum wage, not a living wage,” he reiterated.
