Tinubu establishes a minimum wage of N70,000

President Bola Tinubu has established a new minimum wage of N70,000.

This decision was reached after a meeting with organized labor leaders, including Joe Ajaero, President of the Nigeria Labour Congress (NLC), and Festus Osifo, President of the Trade Union Congress (TUC).

The announcement was made by Mohammed Idris, Minister of Information and National Orientation, during a briefing with State House journalists at the Presidential Villa in Abuja.

This decision concludes nearly six months of intense consultations and negotiations that began after the inauguration of the 37-member Tripartite Committee on the national minimum wage on January 30th. The committee’s discussions ended in a deadlock on June 7th, 2024, with the government proposing N62,000 and labor unions proposing N250,000. Due to the impasse, both sides submitted separate reports to the President for consideration.

Following the disagreements, President Tinubu engaged in extensive consultations with relevant stakeholders, including state governors, before holding final discussions with the organized labor leaders.

In addition, the President has mandated that the minimum wage will be reviewed every three years.