To mark a milestone anniversary, our Chariman and Managing Director, James Budd, reflects on 175 years of maritime history. In the following exchange, we discuss...
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Nigerian Strike Ends After Minimum Wage Increase Promise
Nigeria’s crippling general strike, which halted commercial activities and public services on Monday, June 4th, 2024, has been suspended. The decision follows the government’s pledge to double the minimum wage.
New Minimum Wage Announced
The current minimum wage will be doubled, bringing it to 60,000 naira (approximately €37.14 or US$40.36). While this represents a significant increase, it falls short of the unions’ initial demand of $330.00 per week to offset inflation.
Talks Continue for Final Agreement
Despite the suspension of the strike, negotiations between the government and labor unions are planned to continue on a weekly basis until a final agreement is reached.
Information provided by: Budd Nigeria (budd.nigeria@budd-pni.com)