President Bola Tinubu has endorsed a minimum wage of N70,000 for Nigerian employees, with a commitment to reassess the national minimum wage legislation every three years.
The President has assured that he will explore avenues to support both the private sector and sub-national entities in meeting the minimum wage requirement.
The agreement was made during a meeting in Abuja on Thursday, where he met with leaders of TUC and NLC for the second time this week.
The Minister of Information, Mohammed Idris, has announced that the Federal Government and Organised Labour leadership have reached an agreement to set the new minimum wage for Nigerian workers at ₦70,000.
He said, “We are happy to announce today Thursday 18th July, 2024 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.”
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