President Bola Tinubu has endorsed N70,000 as the new minimum wage for Nigerian workers, with a commitment to review the national minimum wage law every three years.
This decision follows a meeting between the leadership of the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, with the President at the Presidential Villa, Abuja, on Thursday, July 18.
Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy, confirmed the development in a statement on X.
“President Bola Tinubu has approved N70,000 minimum wage for Nigerian workers with 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,” the statement read.
Onanuga further highlighted that labour leaders commended what he called President Tinubu’s fatherly gesture.
The President also pledged to use his executive discretion to resolve the issue of outstanding salaries owed to university unions, amounting to four months.
During the 2024 Democracy Day celebration, Tinubu announced that a consensus was reached on the long-debated new minimum wage between the Federal Government and organized labor.
During his national broadcast to commemorate the 2024 Democracy Day in Abuja, the President revealed that an executive bill will soon be sent to the National Assembly to formalize the new minimum wage agreement.
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