The State Post

Tinubu Approves N70K As New Minimum Wage

House Of Representatives Announces 50% Salary Cut To Aid Economic Hardship

President Ahmed Tinubu yesterday finally approved N70,000 as minimum wage for Nigerian workers and a promise to periodically review the national minimum wage every three years.

A statement by Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy, said: “President Tinubu also promised to find ways to assist the private sector and the sub-nationals to pay the minimum wage.

“President Tinubu announced the decisions at the meeting held with leaders of TUC and NLC yesterday in Abuja, the second time of such meeting in 7 days. 

Meanwhile, leaders of the organized labour unions have officially confirmed their acceptance of the N70,000 minimum wage approved by the President.

This confirmation came after a meeting between the labour leaders and President Tinubu at the Presidential Villa in Abuja also yesterday, where the President announced the offer.

In a briefing with reporters after the meeting, Comrade Joe Ajaero, President of the Nigeria Labour Congress (NLC), revealed that the unions accepted the offer due to the additional incentives that came with it.

Ajaero was joined by Comrade Festus Usifo, President of the Trade Union Congress (TUC), and other representatives of Nigerian workers who also attended the meeting.

According to Ajaero, the unions agreed to the offer because of the extra benefits that were attached to it, which made it a more attractive package for Nigerian workers.

He said another reason for accepting the offer is because the president promised a review every three years as against what obtained in the past.

The Labour leaders also applauded President Tinubu for his fatherly gesture to use his discretionary powers to meet the demands of university unions demanding unpaid 4 months salaries.”

Over the past few months, labour unions, federal and state governments, and the private sector have been deliberating on a new minimum wage.

The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) proposed N494,000 as the new minimum wage, citing inflation and the prevailing economic hardship in the country, while rejecting the federal government’s proposed N60,000 offer.

Meanwhile, members of the House of Representatives has decided to contribute N648 million to the Federal Government over six months by reducing their salaries by 50%. 

This initiative aims to enhance food sufficiency nationwide and mitigate the high cost of food.

Additionally, lawmakers urged Nigerians to remain patient with President Ahmed Tinubu’s administration as it addresses current challenges and hardships.

The House instructed its Committee on Appropriation, Humanitarian Affairs, Finance, and Budget to ensure the implementation of these measures.

These resolutions came after Hon. Ibrahim Isiaka (APC- Ogun State) introduced a motion during the plenary session in Abuja.