President Bola Tinubu has approved a new minimum wage of N70,000 for Nigerian workers. This decision was announced following a significant meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja on Thursday, July 18, 2024.
The announcement was confirmed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, through a statement on X. This development represents a substantial increase aimed at improving the living standards of workers across the country.
Present at the meeting were key figures including the Minister of Information and National Orientation, Mohammed Idris, the Minister of Labour and Employment, Nkeiruka Onyejeocha, the President of the Nigeria Labour Congress, Comrade Joe Ajero, and the President of the Trade Union Congress, Comrade Festus Osifo. Following the discussion, they briefed State House correspondents on the details of the new wage policy.
The decision to increase the minimum wage to N70,000 comes after extensive negotiations and is part of a broader commitment to review the national minimum wage law every three years. This periodic review is intended to ensure that the minimum wage remains aligned with the economic realities and inflation rates in Nigeria.
