President Bola Ahmed Tinubu has approved the sum of ₦70,000 minimum wage for Nigerian workers. This approval was announced during a meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).
The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, in a statement on X (formerly Twitter), confirmed the development.
He stated that the approval includes a commitment to review the national minimum wage law every three years. In addition, efforts will be made to support the private sector and state governments in paying the new minimum wage.
After several days of negotiations, labour unions agreed to a one-week suspension of their nationwide strike to allow for uninterrupted discussions with the government. Initially, the unions demanded a minimum wage of ₦494,000 but later lowered their request to ₦250,000 following extensive negotiations.
The federal government initially proposed ₦62,000 before ultimately agreeing on ₦70,000. The Nigeria Labour Congress (NLC) has accepted the new wage. Its president, Joe Ajaero, stated that the unions agreed to the offer due to additional incentives and the president’s commitment to a wage review every three years, representing a notable improvement from previous practices.
Once ratified by the National Assembly, this new minimum wage will replace the ₦30,000 minimum wage that expired on April 18, 2024.
