By Raymond Ebireri
President Bola Tinubu has approved ₦70,000 as the new minimum wage for Nigerian workers, with a promise to review the Minimum Wage Act every three years. This was contained in a statement by the Minister of Communication and Information, Mohammed Idris.
The decision on a new minimum wage was reached in a meeting held between the Presidential team and the leadership of the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) at the Presidential Villa, Abuja, on 18th July 2024.
Recall that negotiations for a new minimum wage have been stalled for weeks now, following the organised labour’s refusal to shift ground on its ₦250,000 wage demand, which was in stark contrast to the Federal Government’s ₦62,000 proposal. Today’s meeting happens to be the second time in seven days that both parties have met in a bid to find a lasting solution to the minimum wage impasse.
President Bola Tinubu is expected to, in the coming days, send the new minimum wage to the National Assembly for it to be passed into law.