Why Nigeria’s N70,000 New Minimum Wage Failed To Address Inflation Realities—Osifo

The President of the Trade Union Congress (TUC), Festus Osifo, has revealed that the approved N70,000 minimum wage for 2024 represents a 90 per cent adjustment to account for inflation since the previous N30,000 minimum wage was approved in 2019.

Osifo noted that organised labour negotiated the new wage using inflation figures released by the National Bureau of Statistics (NBS).

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