President Bola Tinubu has approved a minimum wage of N70,000 for Nigerian workers, promising to review the national minimum wage law every three years.
He announced this decision at a meeting with TUC and NLC leaders on Thursday at the Presidential Villa in Abuja.
According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, President Tinubu also pledged to find ways in ensuring the private sector and sub-nationals pay the minimum wage.
Reacting, the labour leaders applauded the President’s gesture.
They hailed his promise to use his discretionary powers to meet the demands of university unions seeking payment for four months’ unpaid salaries.
This meeting marked the second time the parties had met within seven days.
The development was also announced by the Minister of Information, Mohammed Idris, in a press briefing after the meeting.
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.”
The labour unions had earlier declared an indefinite strike in May over the federal government’s refusal to increase the minimum wage from the initial offer of N60,000.
Although the strike was suspended after two days, the negotiations continued, with the federal government proposing various figures, including N48,000, N54,000, and N62,000.