The Federal Government of Nigeria, through the Minister of Information Mohammed Idris says the Federal Government and the leadership of the Organised Labour have agreed on ₦70,000 as the new minimum wage for Nigerian workers.
The minister said the agreement was reached at a meeting between President Bola Tinubu and the leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) on Thursday in Abuja.
“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,” Idris said.
The agreement followed a series of talks between labour leaders and President Bola Tinubu after months of failed negotiations between labour organs and a tripartite committee on minimum wage, which the President constituted in January. The committee, which included representatives from state and federal governments as well as the Organised Private Sector, had proposed ₦62,000, while labour insisted on ₦250,000 as the new minimum wage, up from the current ₦30,000.
During a meeting last Thursday, the President called for realistic expectations regarding the minimum wage. “You have to cut your coat according to available cloth. Before we can finalise the minimum wage process, we have to look at the structure,” Tinubu stated.
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.