President Bola Tinubu has approved a new minimum wage of N70,000.
The president announced the decision during a meeting held at the presidential villa on Thursday with leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).
This decision comes with a commitment to review the national minimum wage law every three years, ensuring regular adjustments to meet economic realities.
President Tinubu also vowed to explore ways to support the private sector and sub-national entities in implementing the new wage structure.
The announcement was met with appreciation from labour leaders.
Presidential aide, Bayo Onanuga, reported that the NLC and TUC leaders lauded President Tinubu for what they termed a “fatherly gesture.”
They were particularly encouraged by the President’s assurance to address the demands of university unions seeking payment for four months of unpaid salaries.
Confirming the development, the Minister of Information and National Orientation, Alhaji Mohammed Idris, disclosed that organised labour had agreed to the new minimum wage. Idris made this known following the conclusion of the meeting at the State House.
