Minimum Wage: FG, Labour Settle For N70,000

The Federal Government and the Organized Labour have agreed on a new minimum wage of N70,000, following a meeting between President Bola Tinubu and labour leaders.

“Today’s a happy day for Nigeria. You recall that last week we had a meeting here and the organized, private sector and the sub-nationals have also held their various meetings with Mr. President following the submission of the tripartite agreement to Mr. President,” said Mohammed Idris, Minister of Information and National Orientation.

“Labour came last week. They had a meeting with Mr. President. They asked for adjournment for a week to go and consult further. They did those consultations. They have come back today and we have met with Mr. President.

“We’re happy to announce today that both the federal government and organized Labour have agreed on an increase on the N62,000. The new national minimum wage that we expect us to submit to the National Assembly for legislation is N70,000.”

The agreement comes after the Tripartite Committee on the new national minimum wage submitted two different figures – N62,000 from the government and private sector, and N250,000 from the Organized Labour.

The NLC President, Comrade Joe Ajaero, said: “We accept the offer with mixed feelings. We will not wait for another five years to come on review. Rather, we will negotiate every three years.”

The TUC President, Comrade Festus Osifo, added: “We are quite excited because for us, anything that will keep the university shutdown, we will not allow it to happen. We will do everything possible to ensure that the issues are resolved amicably.”