In a significant move, President Bola Tinubu has officially approved a new minimum wage of N70,000 for Nigerian workers. This decision was reached following a crucial meeting between the President and leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja on Thursday.
The announcement was confirmed by Bayo Onanuga, Special Adviser to President Tinubu on Information and Strategy, in a statement shared on X (formerly known as Twitter).
Onanuga elaborated on the President’s commitment to not only increase the minimum wage but also to review the national minimum wage law every three years, ensuring that it remains fair and reflective of economic realities.
“President Bola Tinubu has approved a N70,000 minimum wage for Nigerian workers, with a commitment to review the national minimum wage law every three years,” Onanuga stated.
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He also highlighted the President’s intention to explore ways to support both the private sector and state governments (sub-nationals) in implementing and sustaining the new wage structure.
The meeting on Thursday marked the second time in seven days that President Tinubu and the labour leaders convened, underscoring the administration’s dedication to addressing workers’ concerns. The labour leaders expressed their gratitude, lauding the President’s “fatherly gesture” in approving the wage increase.
Additionally, President Tinubu vowed to exercise his executive powers to resolve the issue of outstanding salaries, specifically promising to address the four months’ worth of unpaid wages owed to university unions.
This move is seen as part of a broader effort to improve the welfare of Nigerian workers and enhance industrial harmony in the country.
The approval of the new minimum wage and the promise of regular reviews represent a significant step towards better working conditions and economic stability for Nigerian workers, reflecting President Tinubu’s proactive approach to labour relations and economic policy.