On Thursday, 9am news reported a significant development following a meeting between President Bola Tinubu and leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the State House, Abuja. The government and labor groups agreed on a new minimum wage of N70,000 for the lowest-paid worker in Nigeria. Minister of Information and National Orientation, Mohammed Idris, announced the agreement.
Before this decision, the federal government offered N62,000, while labor demanded N250,000. The minister stated that the minimum wage will now be reviewed every three years instead of five. Idris also mentioned that additional incentives will accompany the new wage.
President Bola Tinubu convened the recent meeting, the second in a week, with NLC and TUC representatives, including their Presidents, Comrades Joe Ajaero and Festus Osifo. After the two-hour discussion, Minister Idris, Minister of State for Labour and Employment Hon Nkeiruka Onyejeocha, NLC President Ajaero, and TUC President Osifo briefed the press on the outcomes.
Idris confirmed that the government and labor agreed on the N70,000 minimum wage for the lowest-paid Nigerian worker. He highlighted President Tinubu’s commitment to significant investments in infrastructure and renewable energy in light of the wage increase. The President also assured that withheld salaries of SSANU and NASU workers in public universities will be promptly addressed.
Minister Idris expressed satisfaction with the agreement and noted that the new minimum wage will be submitted to the National Assembly for legislation. He emphasized the government’s plans to invest heavily in infrastructure and renewable energy. More funds will be allocated for acquiring CNG buses, aiming to enhance Nigeria’s compliance with CNG standards.
NLC President Comrade Ajaero acknowledged the acceptance of the N70,000 minimum wage with mixed feelings, considering the current economic conditions. He recalled the negotiations, where the government and private sector initially offered N48,000, which eventually increased to N62,000, while Organized Labour’s demands started at N615,000 and concluded at N250,000.
Stay tuned to 9am news Nigeria for more updates on this development, and continue to follow Ogasabi’s reports on 9am news for the latest information on labor and economic issues in Nigeria.
