President Bola Tinubu and the leadership of organised labour have agreed to a new national minimum wage of N70,000 for Nigerian workers.
An understanding was also reached that a review the minimum wage law will be done every three years.
The announcement came during a meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja.
Bayo Onanuga, the Special Adviser to President Tinubu on Information and Strategy, stated: “President Tinubu also promised to find ways to assist the private sector and the sub-nationals in paying the minimum wage.”
The meeting marked the second time in seven days that the parties have convened to discuss labor issues.
The union leaders commended Tinubu for his initiative and his commitment to addressing their concerns.
In addition, Tinubu assured the unions that he would use his discretionary powers to meet the demands of university unions seeking unpaid salaries for the past four months.
The President is expected to send a new minimum wage bill to the National Assembly.
The bill, when passed and signed into law, will replace the current law that prescribes N30,000 as the minimum wage.
