The indefinite strike by labour unions in Nigeria might conclude soon following an agreement reached with the federal government on a new national minimum wage late Monday.

The agreement was finalised at a meeting in Abuja, convened by the Secretary to the Government of the Federation (SGF), George Akume. National Security Adviser Nuhu Ribadu, the Minister of Information, Mohammed Idris, and the Minister of Labour, Nkiruka Onyejeocha also attended.

While the specific new minimum wage amount remains undecided, the federal government has committed to a figure higher than the current N60,000 offer.

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) initiated the strike on Monday, demanding a new minimum wage and a review of the increased electricity price for some consumers.

The agreement was signed by NLC President Joe Ajaero, TUC President Festus Osifo, Minister of Information Mohammed Idris, and Minister of Labour Nkiruka Onyejeocha.

The document states, “The President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, is committed to a National Minimum Wage that is higher than N60,000.”

To expedite the process, the Tripartite Committee on National Minimum Wage will meet daily over the next week to finalise an agreeable minimum wage that satisfies both the government and labour unions.

In response to the President's commitment, labour leaders will meet with their respective union executives and affiliated unions on Tuesday to seek approval to suspend the strike.

The unions previously noted that the current minimum wage expired on April 19, 2024, necessitating an urgent review. They also criticised the recent electricity tariff increase, arguing it places an unsustainable burden on businesses and workers.

The unions rejected the government's proposal of N60,000, significantly lower than their requested N495,000. They argued the offer was insufficient, given the financial hardships caused by government policies like the petrol subsidy removal, naira devaluation, and increased electricity tariffs.

The unions stated, “Government’s counter-offer mocks the excruciating hardship brought on workers by its insensitive and oppressive economic policies.” They emphasised their demand aligns with international standards and legal requirements.

The strike, which began Monday morning, disrupted operations at public places including airports, schools, and hospitals, and affected private businesses such as banks and electricity companies. The whole country has been in utter darkness as the national grid was switched off.