In a landmark decision aimed at uplifting the living standards of Nigerian workers, President Bola Tinubu has approved an increase in the national minimum wage to N70,000. This announcement was made following a meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja on Thursday.
The approval comes with a commitment to review the national minimum wage law every three years, ensuring that it remains relevant and responsive to the economic realities faced by workers. The meeting included key figures such as the Minister of Information and National Orientation, Mohammed Idris; Minister of Labour and Employment, Nkeiruka Onyejeocha; NLC President, Comrade Joe Ajero; and TUC President, Comrade Festus Osifo.
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The Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga, confirmed the development in a statement on X (formerly Twitter). He emphasized that President Tinubu is dedicated to finding ways to support both the private sector and sub-national entities in implementing the new minimum wage.
During the meeting, labour leaders expressed their appreciation for President Tinubu’s “fatherly gesture.” Additionally, the President pledged to address the outstanding four months’ salaries owed to university unions, showcasing his commitment to resolving critical labor issues.
This move is expected to have a positive impact on the Nigerian workforce, enhancing their purchasing power and contributing to overall economic stability. The regular review of the minimum wage law will help ensure that workers’ wages keep pace with inflation and other economic changes, providing a more sustainable livelihood for all Nigerian workers.
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