President Bola Tinubu has announced the approval of a new minimum wage of N70,000 for Nigerian workers during a meeting with leaders of the Trade Union Congress (TUC) and Nigeria Labour Congress (NLC) held today in Abuja. This decision marks a significant increase from the previous minimum wage of N30,000.
The announcement was made by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, who highlighted that President Tinubu has also committed to periodically reviewing the national minimum wage law every three years. This move is aimed at ensuring that the wage remains responsive to economic changes and the cost of living.
Additionally, President Tinubu expressed his administration’s commitment to supporting the private sector and sub-national governments in meeting the new minimum wage requirements. He pledged to explore various avenues to assist these sectors in implementing the revised wage structure effectively.
Minister of Information, Mohammed Idris, confirmed the development at the Presidential Villa in Abuja, emphasizing that the decision reflects President Tinubu’s dedication to enhancing the welfare of Nigerian workers and promoting sustainable economic growth.
The approval of the N70,000 minimum wage comes after extensive consultations with stakeholders and is expected to positively impact millions of workers across the country. The implementation details and timeline for the new wage structure will be communicated following further consultations with relevant government agencies and labor organizations.
