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The TUC has proposed a minimum wage to the federal government.

March 8, 2024

 

The TUC has proposed a minimum wage to the federal government, considering the various expenses families face.

Based on the monthly budget estimate provided for a family of six, the total expenses amount to N477,000 ($298). This highlights the importance of ensuring that the proposed minimum wage adequately covers essential needs such as housing, utilities, food, health, clothing, schooling, sanitation, and transportation, while also allowing for some level of savings and discretionary spending.

They have insisted the government should carefully consider the proposed minimum wage as it reflects the current basic cost of living, and it will ensure that families are able to meet their basic needs with dignity.

 

Breakdown of the Proposed TUC Minimum Wage.

Monthly budget estimate for a home consisting of a father, mother, and four children:

1. Housing: N20,000 per month

2. Utilities: Monthly electricity costs of N20,000
Drinking water N5,000 per month
Gas/Kerosene N20,000/month

3. Foood for 6 at N400 per meal Three meals a day = N216,000 monthly

4. Health: N30,000 per month

5. Clothing for a six-person household divided into 12 months at a rate of N20,000 per month

6. Schooling: N40,000.

7. Monthly Sanitation: N10,000

8. Transportation for 22 days at N3,000 each day = N66,000/month

All together: N477,000 ($298)

 

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