ABUJA — The Federal Government and Organized Labour have reached an agreement to set the new national minimum wage at N70,000. This decision was finalized after a meeting between President Bola Tinubu, labour leaders, and members of the government team involved in the tripartite committee on the new national minimum wage.
The tripartite committee had initially submitted two proposed figures due to disagreements among the government, private sector, and organized labour. While the government and the private sector proposed N62,000, organized labour demanded N250,000.
Speaking to State House correspondents after the meeting, the Minister of Information and National Orientation, Mohammed Idris, announced that President Tinubu had agreed to increase the initial offer of N62,000 to N70,000.
New National Minimum Wage Set at N70,000
“Today is a happy day for Nigeria,” Idris said. “You recall that last week, we had a meeting here with the Organized Private Sector and the sub-nationals, following the submission of the tripartite agreement to Mr. President. Labour requested a week to consult further, and they have now returned, leading to today’s agreement.”
Boost in Infrastructure and Renewable Energy Investment
In addition to the wage increase, Idris mentioned President Tinubu’s commitment to significant investments in infrastructure and renewable energy. The President assured that more funds would be allocated to acquiring CNG buses and enhancing Nigeria’s compliance with CNG standards.
The President also pledged to address issues concerning the Academic Staff Union of Universities (ASUU), the Senior Staff Association of Nigerian Universities (SSANU), and the Non-Academic Staff Union of Educational and Associated Institutions (NASU).
Commitment to National Unity and Prosperity
Idris praised the organized labour for their patriotism and understanding of the Federal Government’s efforts. “They recognized the Federal Government’s role in ensuring local government autonomy and ensuring both Labour and government are on the same page,” he said. “They have seen the magnanimity of the President and agreed with the Federal Government’s actions today.”
Addressing Withheld Salaries and Economic Recovery
The Labour Minister urged labour unions to consider the government’s efforts in addressing economic challenges. President Tinubu also instructed the Ministers of Finance, Education, Budget, and Economic Planning to work out the modalities for paying withheld salaries to SSANU and NASU, stemming from the ‘no work, no pay’ policy.
Legislative Support for the New Wage
Speaker of the House of Representatives, Tajudeen Abbas, assured that the new minimum wage bill from the executive would receive expedited action. Abbas lauded President Tinubu for his leadership and proactive approach in addressing labour sector issues.
“This significant agreement with organized labour reflects the President’s profound understanding and sensitivity to the challenges facing Nigerian workers,” Abbas said. “President Tinubu’s acceptance to meet the demands of university unions concerning unpaid salaries demonstrates his unwavering commitment to a fair working environment for all Nigerians.”
With this agreement, Nigeria takes a significant step towards addressing the economic needs of its workers, aligning with the President’s Renewed Hope agenda.
