President Bola Tinubu has approved N70,000 minimum wage for Nigerian workers, promising to review the national minimum wage law every three years.
Mohammed Idris, Minister of Information, announced this at the Presidential Villa in Abuja, on Thursday.
According to Idris, the president made the announcement at the ongoing meeting with leaders of the organised labour.
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.
Updated
Why We Accepted N70,000 Minimum Wage – NLC
The President of the Nigeria Labour Congress, Joe Ajaero on Thursday gave reasons why the Organised Labour accepted the proposal of N70,000 minimum wage from the President, Bola Tinubu.
Ajaero, who spoke to State House reporters after the meeting with the President, said the unions agreed to the offer because of other incentives attached.
He said another reason for accepting the offer is because “ the President promised a review every three years as against what obtained in the past.”
President Bola Tinubu on Thursday approved the sum of N70,000 as national minimum wage, his Special Adviser on Information and Strategy, Bayo Onanuga said.
Tinubu was said to have announced the new wage during a meeting with the leadership of the Organized Labour in Abuja.
Thursday’s meeting came a week after the first meeting the President had with the Labour leaders last week.
The new minimum wage when approved by the National Assembly will replace the N30,000 minimum wage which expired on April 18, 2024
Onanuga who posted via his official X handle, @aonanuga at exactly 03:31 pm said, “Breaking: 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.”