FG Approves N70,000 New Minimum Wage
. Why We Agreed To New Amount, By Labour
By Frederick Wright
The Federal Government has approved N70,000 as the new minimum wage for Nigerian workers.
The Organised Labour agreed to this amount after several meetings and consultations.
President Bola Tinubu today (Thursday) approved N70,000 as national minimum wage, his Special Adviser on Information and Strategy, Bayo Onanuga said.
Tinubu was said to have announced the new wage during a meeting with the leadership of the Organized Labour in Abuja.
Today’s meeting came a week after the first meeting the President had with the Labour leaders last week.
The new minimum wage when approved by the National Assembly will replace the N30,000 minimum wage which expired on April 18, 2024
The President of the Nigeria Labour Congress, Joe Ajaero however said the unions agreed to the offer because of other incentives attached.
He said another reason for accepting the offer is because “ the President promised a review every three years as against what obtained in the past.”
He also said that part of the agreement was that the minimum wage would no longer wait till after five years to be reviewed. According to him, the agreement was that the minimum wage would now be reviewed every three years.
