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The Nigerian Labour Congress ( NLC) at midnight suspended a nationwide strike, which was billed to take place today.

NLC President Ayuba Wabba disclosed this after an agreement was reached between the union, government and the private sector over a new minimum wage.

“Having reached this position, and also the fact that the assignment has been concluded, the organised labour has decided that the proposed industrial action is hereby suspended. As the chairman has said, mutual agreement has been reached, and clearly having reached this agreement, we like to appreciate the role the private sector has played,”

 

The exact amount agreed as the new minimum wage was however not disclosed. The committee, which was inaugurated November last year, is expected to submit its report to the President today.

The NLC had this week released a document revealing how much some Nigerian states are willing to pay. No less than 10 states had offered to pay to more than the N24,000 minimum wage suggested by the Federal Government.

This was in response to the governors under the aegis of the Nigerian Governors Forum (NGF), stating that N22,500 was the new minimum wage agreed.

The long road to compromise

During the 40th anniversary of Nigeria Labour Congress (NLC) in Abuja, Minister of Labour Chris Ngige had said that the new minimum wage would commence before the end of September 2018.

He later backtracked, because State Governors were yet to submit their proposal on a new wage system. Ngige stated that without a proposal from the governors, there could be no agreement on a new wage structure.

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The NLC had on Thursday the 27th of September embarked on a strike following a two-week ultimatum issued to the Federal Government. The strike was then suspended to enable the committee to reconvene on October 4.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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