Labour Accepts ₦70,000 Minimum Wage, Gives Reasons

Labour Accepts ₦70,000 Minimum Wage, Reviews to be Done Every 3 Years

Abuja, Nigeria – In a significant development, the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have accepted ₦70,000 as the new minimum wage for Nigerian workers. The agreement was reached after a meeting with President Bola Tinubu at the State House in Abuja.

According to NLC President Joe Ajaero and TUC President Festus Osifo, the decision was made due to the provision that wage reviews will now be done every three years instead of the previous five-year cycle.

The leaders of the Organized Labour emphasized that this agreement is a significant shift from the previous arrangement, allowing for more frequent reviews to reflect changing economic conditions.

The agreement follows a series of talks between labour leaders and the President, after months of failed negotiations with a tripartite committee on minimum wage.

The new minimum wage of ₦70,000 is a compromise between the ₦62,000 proposed by the committee and the ₦250,000 demanded by labour.

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The Information Minister, Mohammed Idris, confirmed that the agreed amount will be communicated to the National Assembly in the coming days.

This development marks a significant milestone in the ongoing efforts to improve the welfare of Nigerian workers.

Stay tuned for further updates!