May 01, 2018 1:25PM / Proshare WebTV
is the 2018 workers day, celebrated in over 100 countries that are members of
the International Labour Organization (ILO),
which covers the public and private sectors.
the globe one of the key issues at the front burner of Labour unions, is the
in South Africa the leading Trade Union led protests over the 20 rand
($1.60) an hour minimum wage, which they described as “starvation wages”.
South African Trade Unions are seeking for 12,500 rand ($1,000) living
wage to replace the hourly wages, which has prompted a meeting of President
Cyril Ramaphosa and the Labour Ministry.
Nigeria, the minimum wage issue has been a key thrust of negotiations between
Labour and the Government.
the Nation’s minimum wage is N18,000.00 ($50)
and is long overdue for review since 2011.
is 7 years now and the Nigerian Labour Congress (NLC)
is proposing a new minimum wage of N65,000 ($150).
major challenge on the minimum wage issue is the legacy of unpaid salaries of
workers by States across the country.
far President Muhammadu Buhari has inaugurated a committee on the minimum wage
to engage the Labour unions.
2016 recession dampened the purchasing power parity of Nigerians, including
workers and with a recovery already at the moment, the justification for
minimum wage review is key considering the economic realities.
a recent interview with notable economist Dr Ayo Teriba the key word for the
negotiations is “collective bargaining”, which is critical for the economy.
the Government to Labour, national interest, welfare of the workers and the
growth of the economy is key to the negotiations which must also come with
the negotiations flow in the days to come will be vital and Nigerians will
expect a realistic minimum wage that will be sustainable for the next five years for the Federal, State and Local Governments.
1.Wage Growth Key
to Continued Success of Abenomics
Health of the Household
applauds Tony Elumelu’s commitment to job creation and poverty alleviation
Productivity Rose to N684.43 in 2016 - NBS
Rate Rises to 14.2% in Q4’16 from 13.9% in Q3’16 - NBS