PeakNews Online
An executive bill proposing a new national minimum wage of N70,000 will be presented to the National Assembly on Tuesday. This decision follows an agreement between President Bola Tinubu and labor leaders aimed at enhancing worker remuneration.
President Tinubu, and members of the Organised Labour, including the Nigeria Labour Congress (NLC) President Joe Ajaero and Trade Union Congress (TUC) President Festus Osifo, reached the new wage agreement during a meeting at the Aso Presidential Villa in Abuja. This wage will replace the previous N30,000 minimum wage, which expired on April 18, 2024.
The Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga, confirmed the legislative move, stating, “The minimum wage will reach the National Assembly by Tuesday.”
President Tinubu emphasized his commitment to improving workers’ conditions: “No one in the federal establishment should earn less than N70,000. We are going to benchmark at N70,000,” he stated. The President also proposed a review of the minimum wage every three years, considering the economic conditions.
The Tripartite Committee on the New National Minimum Wage had earlier proposed two figures, with the government team and private sector suggesting N62,000, while organized labor demanded N250,000. Following consultations with various stakeholders, the President settled on N70,000.
After the meeting, Minister of Information and National Orientation, Mohammed Idris, expressed satisfaction, highlighting the government’s commitment to infrastructure and renewable energy investments. Additionally, he announced the payment of withheld salaries for university staff unions and local government autonomy measures.
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NLC President Ajaero acknowledged the economic challenges but appreciated the shorter review cycle: “We will not wait for another five years to review; it’s like we’ll have to now negotiate even two times within five years.” TUC President Osifo echoed similar sentiments, stressing the importance of the agreed review mechanism and the swift passage of the minimum wage bill.
The Organised Private Sector of Nigeria (OPSN) commended the President for concluding the negotiations but emphasized the need for economic support measures, including electricity tariff reversal and tax exemptions. However, the Peoples Democratic Party (PDP) criticized the new wage as inadequate, proposing a minimum of N120,000 to meet workers’ needs.
While the new minimum wage agreement has been met with mixed reactions, the commitment to periodic reviews and additional economic measures provides a foundation for ongoing dialogue between the government, labor, and private sectors to address Nigeria’s economic challenges.
