Minister of Information Mohammed Idris disclosed that the Federal Government has reached an agreement with the leadership of Organised Labour to increase the minimum wage for Nigerian workers to ₦70,000. This decision was announced following a meeting between President Bola Tinubu and the leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) in Abuja.
Idris stated that both parties had reached a consensus on the new national minimum wage, with NLC President Joe Ajaero and TUC boss Festus Osifo also confirming the decision. It was further revealed that the minimum wage would now be subject to review every three years instead of the previous five-year interval.
Following months of negotiations and failed talks between labour organs and a tripartite committee, the new agreement marks a significant development in addressing the economic challenges faced by Nigerian workers. President Tinubu also directed the relevant ministers to address issues with the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU).
This resolution comes after the committee proposed ₦62,000 as the new minimum wage, while labour had previously sought ₦250,000. The President emphasized the need for realistic expectations in light of economic constraints and assured that an executive bill on the new national minimum wage would be submitted to the National Assembly for consideration. The information minister confirmed that the agreed upon amount of ₦70,000 would soon be conveyed to the National Assembly for further action.