Connect with us

Economy

NLC Strike Continues Amidst New Wage Discussions

Published

on

Nigeria Labour Congress - Investors King

The nationwide strike initiated by the Nigeria Labour Congress (NLC) remains in effect despite a recent agreement reached with the Federal Government.

The strike, which has significantly impacted the country’s economy, will continue until a review meeting by the union’s organs later today.

In a statement posted on social media platform X on Tuesday, the NLC reaffirmed its commitment to the ongoing industrial action, which has led to widespread disruptions across various sectors.

“Until we hear from our organs at our meeting scheduled for today, June 4, we are still on strike,” the post read.

This development follows a six-hour negotiation session held on Monday in Abuja between the Federal Government and the leadership of organized labour.

During the meeting, the government reiterated President Bola Tinubu’s commitment to increasing the minimum wage to an amount higher than N60,000.

This gesture was intended to address one of the key demands of the labour unions.

The agreement, signed by Minister of Information and National Orientation Mohammed Idris and Minister of State for Labour and Employment Hon. Nkeiruka Onyejeocha on behalf of the Federal Government, emphasized the administration’s dedication to resolving the wage issue.

The tripartite committee, comprising representatives from the government, labour unions, and the private sector, is set to meet daily over the next week to finalize the new national minimum wage.

Representatives of the organized labour, including NLC President Joe Ajaero and Trade Union Congress (TUC) President Festus Osifo, were also signatories to the agreement.

The labour leaders consented to convene meetings with their respective union organs to consider the government’s new offer and ensure that no worker would face repercussions for participating in the strike.

Despite these assurances and the government’s proposal, the NLC has chosen to maintain the strike pending the outcome of today’s internal review meeting.

The decision underscores the union’s cautious approach and its determination to secure a tangible and satisfactory outcome for Nigerian workers.

The continued strike has brought many sectors of the economy to a halt, affecting businesses, transportation, and public services.

The protracted industrial action highlights the deep-seated issues within Nigeria’s labour market and the urgent need for comprehensive reforms.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Advertisement
Advertisement
Advertisement