Bola Tinubu has approved N70,000 as a new minimum wage for Nigerian workers, promising to review the national minimum wage law every three years.
Mohammed Idris, Minister of Information, made the announcement at the Presidential Villa in Abuja, on Thursday. He said Tinubu made the announcement at the ongoing meeting with leaders of the organised labour.
In his statement he said, “We are happy to announce today (Thursday) that both the Organised Labour and the Federal Government have agreed on an increase on the N62,000 minimum wage. The new national minimum that Mr President is expected to submit to the National Assembly is ₦70,000,” Idris said.
The agreement between the two sides followed a series of talks between labour leaders and the President in the last few weeks after months of failed talks between labour organs and a tripartite committee on minimum wage constituted by the President in January.
READ ALSO: NLC/TUC: Tinubu to Send Unagreed Minimum Wage Bill to NASS Next Week
Last Thursday, the President met with labour leaders and called for realistic expectations as regards minimum wage. “You have to cut your coat according to available cloth. Before we can finalise the minimum wage process, we have to look at the structure,” Tinubu had said.
Comrade Joe Ajaero, President of Nigeria Labour Congress (NLC), and Comrade Festus Usifo, President of the Trade Union Congress (TUC), are at the meeting alongside some members of their unions.
Before the meeting, labour leaders had insisted on N250,000 minimum wage.
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