After several months of negotiations, the Federal Government and the leadership of the Organised Labour have agreed on a new National Minimum Wage of N70,000.
The announcement was made on Thursday after a scheduled meeting between the Labour leaders and President Bola Tinubu at the Presidential Villa in Abuja.
Finally, the dust raised over a new salary structure for Nigerian workers have been settled as both government and Labour centres agree on N70,000 as new National Minimum Wage in the country.
The agreed figure represents 110% increase from the current Minimum Wage of N30,000 which came into effect in 2019.
Minister of Information, Mohammed Idris and Minister of State for Labour and Employment, Nkeiru Onyejeocha, had joined the President to engage the Labour leaders at Thursday’s crucial meeting where the decision on the new National Minimum Wage was reached.
Both parties also agreed on a new policy that will allow for review of National Minimum Wage every three years instead of the usual five years, just as the Federal Government promised to roll out incentives to ease the current economic burden on Nigerian workers
The proposed N70,000 National Minimum Wage will come into effect after President Tinubu forwards what has been agreed upon as a bill to the National Assembly for consideration and passage into law
(Editor: Terverr Tyav)
