FG, Labour reach ₦70,000 Minimum Wage Agreement—Minister
According to Mohammed Idris, the Minister of Information, the new minimum wage for workers in Nigeria is ₦70,000, which was agreed upon by the Federal Government and the leadership of organised labour.
According to the minister, President Bola Tinubu met with the heads of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) on Thursday in Abuja.
An increase of N62,000 in the minimum wage has been agreed upon by the federal government and organised labour, which we are pleased to announce today (Thursday). Excitement filled Idris as he informed State House reporters that the new national minimum amount that the president is anticipated to present to the National Assembly is ₦70,000.
Various officials from both the NLC and the TUC, as well as the Labour Minister Nkiruka Onyejeocha, were seen flanking the minister.
Ajaero affirmed a stance of ₦70,000 regarding the minimum wage matter.
In addition, he brought up the fact that, during the meeting, they decided to review the minimum wage every three years rather than waiting five. The minimum salary will be reviewed every three years, he said.
According to Ajaero, the ₦70,000 standard will be discussed by organised labour with their members.
Our latest visit was last week. Yes, we are here right now. This is our current situation: they have announced a sum of ₦70,000. Ajaero did say that they would not wait five years to reach an agreement.
According to Onyejeocha, Tinubu had also asked Wale Edun, the minister of finance, and Atiku Bagudu, the minister of budget, to establish a plan to resolve the disputes with SSANU and NASU, the unions representing faculty and staff at Nigerian universities, respectively.
The president and labour leaders met for several meetings in recent weeks to reach the “agreement” that ended months of fruitless negotiations between labour groups and a tripartite committee he had formed in January to discuss a minimum wage.
Labour demanded 250,000 as the new minimum wage for employees who now make 30,000, while the committee—which comprised state and federal governments and the organised private sector—had offered 62,000.
Due to the high cost of living and unpredictable inflation that followed the President’s decision to remove gas subsidies, the labour unions had argued that a salary of 30,000 was untenable for any employee.
Regarding the minimum wage, the president met with labour leaders last Thursday and asked for reasonable expectations. The fabric at your disposal will determine how you should cut your coat. “We need to look at the structure before we can finalise the minimum wage process,” Tinubu stated.
While speaking on Democracy Day on June 12, 2024, the president indicated that an executive measure creating a new national minimum wage for workers will shortly be sent to the National Assembly.
The ₦70,000 “agreed” figure will be discussed with the National Assembly in the coming days, according to Thursday’s confirmation by the communications minister.