President Tinubu has sanctioned a N70,000 minimum wage for Nigerian workers, with a commitment to reassess the national minimum wage law every three years.
This approval was confirmed on Thursday by Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy.
The statement mentioned that Tinubu revealed 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.
Present at the meeting were Joe Ajaero, president of the NLC, Festus Osifo, president of the TUC, and relevant federal ministers.
Onanuga also noted that the president announced plans to soon review the four-month salary of the university union.
“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 important to highlight the ongoing negotiations between the federal government and organized labor concerning the new minimum wage.
Initially, the federal government proposed N62,000, while labor demanded N250,000, leading to a stalemate between the two parties.
Additionally, the Minister of Information, Mohammed Idris, stated that Organized Labor accepted the proposal of N70,000 as the new minimum wage for Nigerian workers.
The agreement was reached during a meeting on Thursday in Abuja between President Tinubu and the leaders of the NLC and TUC. NLC President Joe Ajaero, TUC President Festus Osifo, Labour Minister Nkiruka Onyejeocha, and other officials from both sides accompanied the minister when he made the statement to the press.
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.
What to Know
On Thursday, July 11, leaders of organized labor met with President Bola Tinubu at the presidential villa to discuss the proposal for a new minimum wage.
Both parties held an hour-long meeting after their arrival.
The meeting was adjourned until the following week, with NLC President Joe Ajaero maintaining the demand for a N250,000 minimum wage.
However, after reconvening today with the president, both parties agreed on a N70,000 minimum wage.
Please like, comment, share & follow our Instagram @beerparloormedia