President Bola Ahmed Tinubu, on Thursday, officially endorsed a new minimum wage of N70,000 for Nigerian workers.
President Tinubu made a significant announcement during a high-level meeting with the leaders of the Trade Union Congress (TUC) and the Nigerian Labour Congress (NLC) in Abuja.
The landmark agreement between the Federal Government of Nigeria and Organized Labour Unions features several key takeaways, including:
1. President Bola Tinubu approved N70,000 minimum wage for Nigerian workers with promise to review the national minimum wage law every three years.
2. President Tinubu also promised to find ways to assist the private sector and the sub-nationals to pay the minimum wage.
3. President Bola Ahmed Tinubu also promised to use his discretionary powers meet the demands of university unions demanding unpaid 4 months salaries.
4. President Bola Tinubu has promised to give 36 CNG powered buses with a sitting capacity of 100 each to the TUC and NLC.
5. NLC President Joe Ajaero explained that the decision to accept the N70,000 offer, despite initially demanding N250,000, was influenced by the additional incentives that were included in the offer.
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.”
