The Federal Government and the leadership of the Organised Labour have come to an agreement on 70,000 Naira as the new Minimum Wage for Nigerian workers.
Minister of Information, Mohammed Idris said the agreement was reached at a meeting between President Bola Tinubu and the leaders of the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, on Thursday in Abuja.
“We are happy to announce today (Thursday) that both the Organised Labour and the Federal Government have agreed on an increase on the N62,000 minimum wage. The new national minimum that Mr President is expected to submit to the National Assembly is ₦70,000,” an elated Idris told State House correspondents.
NLC President, Joe Ajaero, TUC boss, Festus Osifo, Labour Minister Nkiruka Onyejeocha, and other officials from both sides were present with the Minister during the announcement.
Ajaero confirmed that ₦70,000 was where they were on the issue of the Minimum Wage. He also said part of the discussion was that the Minimum Wage would no longer wait till after five years to be reviewed as it was agreed upon that it would now be reviewed every three years.
Ajaero said the Organised Labour would consult with their members on the ₦70,000 benchmark. “We were here last week. And we are here now. What they have announced in terms of the amount of ₦70,000 happens to be where we are now. But the thing about it is that we will not wait for another five years to come and agree,” Ajaero said.
On her part, Onyejeocha said President Tinubu had also directed the Ministers of Finance and Budget, Wale Edun and Atiku Bagudu, to work out modalities on how to settle the issues with the Senior Staff Association of Nigerian Universities, SSANU, and the Non-Academic Staff Union of Educational and Associated Institutions, NASU.
The “agreement” between the two sides followed a series of talks between labour leaders and the President in the last few weeks after months of failed talks between labour organs and a tripartite committee on minimum wage constituted by the President in January.
The committee, which comprised state and federal governments and the Organised Private Sector, had proposed 62,000 Naira while labour insisted on 250,000 Naira as the new Minimum Wage for workers who currently earn 30,000 Naira as Minimum Wage.