Tinubu Approves N70,000 Minimum Wage for Nigerian Workers

• President Bola Tinubu has approved a new national minimum wage of N70,000 for Nigerian workers, to be reviewed every three years to stay aligned with economic realities.
• The decision came after extensive discussions with labor leaders, including the NLC and TUC presidents, with the federal government and organized labor agreeing on the new wage figure, which will be formalized in a bill to the National Assembly.
• The government plans to complement the wage increase with investments in infrastructure, renewable energy, CNG-powered buses, and measures to curb inflation, including suspending duties on certain food imports.

Tinubu Approves N70,000 Minimum Wage for Nigerian Workers

Abuja, Nigeria – In a landmark decision, President Bola Tinubu has approved a new national minimum wage of N70,000 for Nigerian workers.

This announcement was made by Mohammed Idris, Minister of Information, at the Presidential Villa in Abuja on Thursday. The president also committed to reviewing the national minimum wage law every three years to ensure it remains responsive to economic realities and the needs of workers.

The announcement came during an ongoing meeting with leaders of the organized labour, including Comrade Joe Ajaero, President of the Nigeria Labour Congress (NLC), and Comrade Festus Usifo, President of the Trade Union Congress (TUC), along with other union members.

Prior to this meeting, labour leaders had been advocating for a minimum wage of N250,000, citing the rising cost of living and inflationary pressures.

President Tinubu had previously engaged with labour leaders over the minimum wage issue, expressing his concern for the welfare of Nigerian workers and emphasizing the need for improved wages, better working conditions, and enhanced welfare.

The president reiterated his administration’s commitment to establishing a wage structure that would be fair and acceptable to all parties involved.

Mohammed Idris highlighted the collaborative effort between the federal government and organized labour in reaching the N70,000 figure. He noted that the new minimum wage proposal would be formalized in a bill to be submitted to the National Assembly next week.

“We’re happy to announce today that both the federal government and organized labour have agreed on an increase on the N62,000. The new national minimum wage that we expect to be submitted to the National Assembly for legislation is N70,000,” Idris stated.

He added that President Tinubu assured significant investments in infrastructure and renewable energy as part of a broader strategy to improve the economy and enhance living standards.

To complement the new minimum wage, the Federal Government plans to accelerate the rollout of Compressed Natural Gas (CNG)-powered buses to help curb the high cost of transportation.

Additionally, efforts are underway to address inflation, including the recent directive to suspend duties on certain food imports to lower food prices.

Hon. Nkeiruka Onyejeocha, Minister of State for Labour, emphasized that the issue of minimum wage was not just about legal requirements but also about the well-being of workers.

She reiterated President Tinubu’s position that the review period for the minimum wage should be reduced from five years to three years, ensuring that adjustments can be made more frequently in response to economic conditions.

“He said that he is our father, like he has always said. That, first and foremost, the review of this minimum wage policy has to be reduced to three years, that five years is too long a time to get any minimum wage review. And of course, that Labour should look at the indices of the economy and accept N70,000 minimum wage,” Onyejeocha explained.

This decision marks a significant step in addressing the economic challenges faced by Nigerian workers and demonstrates the government’s commitment to enhancing the quality of life for its citizens.

The collaboration between the federal government and organized labour reflects a shared goal of creating a more equitable and prosperous society.