FG, Labour Agree on ₦70,000 Minimum Wage

The Federal Government of Nigeria and the leadership of the Organised Labour have agreed on ₦70,000 as the new minimum wage for Nigerian workers.

The Minister of Information Mohammed Idris disclosed on Thursday the agreement was reached at a meeting between President Bola Tinubu and the leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) on Thursday in Abuja.

“We are happy to announce today (Thursday) that both the Organised Labour and the Federal Government have agreed on an increase on the N62,000 minimum wage. The new national minimum that Mr President is expected to submit to the National Assembly is ₦70,000,” the minister said.

NLC President Joe Ajaero, TUC President, Festus Osifo, confirmed the development but the NLC President said the Organised Labour would consult with their members on the ₦70,000 benchmark.

The NLC president said parties agreed that the minimum wage would be reviewed every three years.

“We were here last week. And we are here now. What they have announced in terms of the amount of ₦70,000 happens to be where we are now. But the thing about it is that we will not wait for another five years to come and agree,” Ajaero said.