Breaking: Tinubu okays N70,000 Minimum Wage

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A minimum wage of N70,000 has finally been approved for Nigerian workers by President Bola Tinubu, with a promise to review this every three years.

The Minister of Information and National Orientation, Mohammed Idris, disclosed this while addressing State House correspondents at the Presidential Villa in Abuja, on Thursday.

According to the minister, the agreement was reached at a meeting between President Bola Tinubu and the leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) on Thursday in Abuja.

He said, “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.”

NLC President Joe Ajaero, TUC boss Festus Osifo, Labour Minister Nkiruka Onyejeocha, and other officials from both sides flanked the minister.

Ajaero confirmed that ₦70,000 was where they were on the issue of the minimum wage.

He also said part of the discussion was that the minimum wage would no longer wait till after five years to be reviewed.

According to him, the agreement was that the minimum wage would now be reviewed every three years.

Ajaero said the Organised Labour would consult with their members on the ₦70,000 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.