FG, Labour Agree On ₦70,000 Minimum Wage — MinisterFG, Labour Agree On ₦70,000 Minimum Wage — MinisterFG, Labour Agree On ₦70,000 Minimum Wage — Minister

The Nigerian Federal Government and the leadership of the Organised Labour have reached an agreement to set ₦70,000 as the new minimum wage for workers. This decision was confirmed by the Minister of Information, Mohammed Idris, following a meeting in Abuja between President Bola Tinubu and leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).

“We are happy to announce today that both the Organised Labour and the Federal Government have agreed on an increase on the ₦62,000 minimum wage. The new national minimum that Mr President is expected to submit to the National Assembly is ₦70,000,” said Idris.

Prominent figures, including NLC President Joe Ajaero, TUC boss Festus Osifo, and Labour Minister Nkiruka Onyejeocha, were present at the announcement.

Wage Review Every Three Years

Joe Ajaero confirmed the new minimum wage of ₦70,000 and mentioned that the review process for the minimum wage would now occur every three years, rather than every five years. This change aims to ensure more frequent adjustments to keep up with economic conditions.

Ajaero stated, “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.”

The Organised Labour plans to consult with its members regarding the ₦70,000 benchmark to ensure it meets the needs and expectations of Nigerian workers.

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