The President General of Trade Union Congress, (TUC) Comrade Festus Osifo has called on the administration of President Bola Ahmed Tinubu to implement economic policies that will make value for commodity against usual demand for minimum wage review by workers.
TUC President General made the call during the Southwest Trade Union Congress of Nigeria Labour Summit titled; “Repositioning the Labour Movement amid Economic Decline In Nigeria” held today at the International Conference Centre, University of Ibadan, Oyo state.
Comrade Osifo lamented over poor standard of living of Nigerians, especially workers due to unchecked hyperinflation, he noted that the economic challenge in the country has drastically eroded money for commodity value, thus continually eventuate call for increase in minimum wage by workers.
TUC National President Festus Osifo called the president Bola Ahmed Tinubu should give room for consideration by micro, macro, fiscal and monetary policy experts for a quicker relief to hardship in the country, while there is a sincere cost of governance and resources distribution and management.
Festus Osifo at the summit emphasized Nigeria’s abundant yet underutilised mineral resources. He criticised the frivolous expenditure of revenue generated from these resources adding that the government must prevent further depreciation of the naira.
On the issue of minimum wage negotiations, Osifo stated that Nigerian workers seek a living wage, not just a minimum wage. He advocated for the minimum wage to be renegotiated biennially and adjusted for inflation.
He said, “We call ourselves the giant of Africa, yet we can’t pay a reasonable minimum wage. We are tired of the government telling us to continue coping.”
In his speech, Oyo State Governor, Seyi Makinde, represented by his deputy, Barrister Bayo Lawal said his administration will continue to prioritize workers’ good welfare, adding that the state is awaiting the outcome of tripartite committee constituted over the ongoing national minimum wage negotiation as to decide much affordable minimum wage for workers in the state.
Makinde noted that payment of workers salaries, pensions, bonuses as at when due, urging for collaborative efforts with the state labour centres for more socio-economic development.
Earlier, Chairman, Trade Union Congress, Oyo State Council, Comrade Bosun Olabiyi-Agoro, while appreciating the magnanimity of Oyo state government and national president, Comrade Festus Osifo, maintained that the southwest labour summit will periodically be held at discussing topical issues affecting the wellbeing of workers in the South western region of Nigeria.