On Thursday, July 18, President Bola Tinubu announced a significant increase in the minimum wage for Nigerian workers, setting it at ₦70,000. This new wage level reflects a commitment to periodically review the national minimum wage law every three years to ensure it aligns with economic conditions and workers' needs.
The announcement was made by Mohammed Idris, Minister of Information, during a meeting with leaders of the organized labour unions at the Presidential Villa. Key participants in the discussion included Comrade Joe Ajaero, President of the Nigeria Labour Congress (NLC), and Comrade Festus Usifo, President of the Trade Union Congress (TUC), among other union representatives.
The new minimum wage is a response to ongoing discussions and advocacy from labour leaders, who had initially proposed a minimum wage of ₦250,000. The government's decision to approve ₦70,000 is intended to address the immediate needs of workers while establishing a framework for future adjustments in response to economic changes.
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