President Tinubu has approved a N70,000 minimum wage for Nigerian workers with a promise to review the national minimum wage law every three years.
A statement by Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy, confirmed the approval on Thursday.
According to the statement, Tinubu announced the new minimum wage during a meeting with leaders of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) at the presidential villa in Abuja.
Joe Ajaero, the president of NLC, and Festus Osifo, president of TUC, were among those present, alongside relevant ministers of the federation.
Onanuga also mentioned that the president confirmed he would soon review the four-month salary of the university union in the country.
“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 Labour leaders applauded President Tinubu for the fatherly gesture as the President also promised to use his discretionary powers meet the demands of university unions demanding unpaid 4 months salaries.”
It is crucial to note the ongoing negotiations between the federal government and organized labour regarding the new minimum wage.
Initially, the federal government proposed a sum of N62,000, but labour insisted on N250,000, resulting in a deadlock between both parties.
In addition, the Minister of Information, Mohammed Idris, said the Organised Labour agreed on the proposal of N70,000 as the new minimum wage for Nigerian workers.
The minister said the agreement was reached at a meeting between President Tinubu and the leaders of the NLC and TUC on Thursday in Abuja.
NLC President,Joe Ajaero, TUC boss Festus Osifo, Labour Minister Nkiruka Onyejeocha, and other officials from both sides flanked the minister while he gave the statement to newsmen.
“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 N70,000,” Idris said.
Following their arrival, both parties had an hour-long meeting over the new minimum wage.
The meeting was later adjourned till next week, with the president of NLC, Joe Ajaero insisting that the status quo of N250,000 minimum wage demand remains unchanged.
However, after meeting again today with the president, both parties finally decided to agree on a N70,000 minimum wage.
