A shocking news was unveiled to Nigerian workers, as the Nigeria Labour Congress (NLC) accepts the proposal of a N70,000 minimum wage from President Bola Tinubu. NLC President Joe Ajaero announced the acceptance following a meeting with the President at the State House on Thursday.
Ajaero detailed the reasons behind the NLC's decision to accept the new minimum wage proposal, emphasizing the additional incentives attached to the offer. One of the major incentives is the President's commitment to reviewing the minimum wage every three years, a significant improvement from the past practice.
“The President promised a review every three years as against what obtained in the past,” Ajaero stated. This commitment to regular reviews aims to ensure that the minimum wage keeps pace with inflation and other economic factors affecting the livelihood of Nigerian workers.
President Bola Tinubu formally approved the N70,000 minimum wage during the meeting with the leadership of the Organized Labour, according to his Special Adviser on Information and Strategy, Bayo Onanuga. The announcement, made in Abuja, marks the second meeting between the President and the Labour leaders within a week.
Onanuga shared the news via his official X handle, @aonanuga, at exactly 03:31 PM. He highlighted the President's commitment to further support the private sector and state governments in implementing the new wage. “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,” Onanuga posted.
The proposed N70,000 minimum wage is set to replace the N30,000 minimum wage, which expired on April 18, 2024. This new wage proposal will now proceed to the National Assembly for approval, following which it will become the new national standard.
During the meeting, President Tinubu also addressed the demands of university unions regarding unpaid salaries. He assured that he would use his discretionary powers to meet the demands of these unions, which have been requesting payment of four months of unpaid salaries. This promise aims to ease the financial struggles faced by university staff and ensure smoother operations within educational institutions.
The Labour leaders expressed their gratitude to President Tinubu for his “fatherly gesture” and the proactive steps taken to address the concerns of Nigerian workers. The acceptance of the N70,000 minimum wage, along with the promise of regular reviews, is seen as a positive step towards improving the standard of living for workers across the country. While the proposal moves to the National Assembly, the NLC and other labour unions will continue to advocate for swift legislative approval. The new wage, coupled with the President’s commitment to supporting both the public and private sectors, is expected to bring much-needed relief to Nigerian workers amid ongoing economic challenges.
