President Bola Tinubu’s approval of a new national minimum wage of N70,000, with a commitment to review the minimum wage law every three years, has received the acceptance of the labour leaders.
Tinubu’s approval followed a meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), which took place at the Presidential Villa in Abuja on Thursday.
The Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, in a statement on X, confirmed the development.
The statement read: “President Bola Tinubu has approved the N70,000 minimum wage for Nigerian workers with a promise to review the national minimum wage law every three years.
“President Tinubu also promised to find ways to assist the private sector and the sub-nationals to pay the minimum wage.
“President Tinubu announced the decisions at the meeting held with leaders of TUC and NLC on Thursday in Abuja, the second time the parties met in 7 days.”
According to Onanuga, labour leaders expressed their appreciation for Tinubu’s ‘fatherly gesture’, and the president also promised to use his executive powers to resolve the issue of the four months’ outstanding salaries owed to university unions.
The President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, acknowledged that the negotiations had reached a consensus on a minimum wage of ₦70,000.
He also revealed that the discussions resulted in an agreement to shift from the previous five-year review cycle to a new three-year review cycle for the minimum wage.
Ajaero announced that organised labour will engage in internal consultations with its membership to discuss and finalize the agreed-upon ₦70,000 minimum wage benchmark.
He said: “We were here last week. And we are here now. What they have announced in terms of the amount of ₦70,000 happens to be where we are now. But the thing about it is that we will not wait for another five years to come and agree.
The Minister of Information, Mr. Mohammed Idris, announced that the agreed-upon minimum wage of ₦70,000 would be transmitted to the National Assembly in the upcoming days.
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