President Tinubu And Organised Labour Agrees On ₦70,000 Minimum Wage For Workers

The Federal Government and Organized Labour leaders have agreed on a new minimum wage of ₦70,000 for Nigerian workers.

This decision was made during a meeting between President Bola Tinubu and leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) in Abuja on Thursday, July 18.

Speaking with State House correspondents, the Minister of Information, Mohammed Idris said that the agreement raised the minimum wage from ₦62,000 to ₦70,000, and it will be submitted to the National Assembly.

“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.

[irp]

NLC President, Joe Ajaero also confirmed the ₦70,000 figure and revealed that the minimum wage will now be reviewed every three years instead of every five years.

Ajaero said the labour leaders will consult with their members about the new wage benchmark.

“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,” Ajaero said.

This agreement followed a series of discussions after months of failed talks about the minimum wage, initially proposed at ₦62,000 by a tripartite committee but demanded at ₦250,000 by labour due to inflation and high living costs.

KanyiDaily recalls that the Nigeria Governors’ Forum had disagreed with the Federal Government’s proposal of a N60,000 minimum wage, stating that it’s not practical and won’t work.

[irp]