Tinubu approves ₦70,000 minimum wage for workers

President Bola Tinubu has approved ₦70,000 minimum wage for workers, promising to review the national minimum wage law every three years.

Bayo Onanuga, the president’s Special Adviser for Information and Strategy announced the development in a statement on Thursday, July 18, 2024.

According to him, Tinubu announced the decisions at the meeting held with leaders of the Trade Union Congress and the Nigeria Labour Congress in Abuja.

The statement reads in part, "President Bola Tinubu has approved ₦70,000 minimum wage for Nigerian workers with promise to review the national minimum wage law every three years.

President Tinubu also promised to find ways to assist the private sector and the sub-nationals to pay the minimum wage. President Tinubu announced the decisions at the meeting held with leaders of TUC and NLC on Thursday in Abuja, the second time the parties met in 7 days."

Onanuga said the labour leaders applauded the president for "the fatherly gesture."

He said the president also promised to use his discretionary powers to meet the demands of university unions demanding unpaid four months' salaries.

How Tinubu convinced labour leaders to accept 70k

The labour leaders had repeatedly rejected government offers, insisting that the new minimum wage should be increased to ₦250,000.

However, after several failed negotiations between the union leaders and federal government representatives, President Tinubu stepped in to prevail on the leadership of the TUC and the NLC.

According to the president's spokesperson, Ajuri Ngelale, Tinubu said he had to intervene in the negotiations, knowing the economic challenges faced by many Nigerians, and the need to provide urgent succour.

“I have heard all your presentations. You came here with the intention to get something on behalf of your members. It has been tough globally. And if you review my track record, I have never been found wanting to ameliorate the problem of workers.

“I belong to the people and to all of you in leadership. Without you, this job is not interesting,” the President said.

“Let us look at the tenure of review. Let us agree on that, and affirm three years. Two years is too short. We affirm three years. We will review it.

“I am going to move from the tripartite committee. I am going to edge a little bit forward, looking at the review that we have done.

“Yes, no one in the federal establishment should earn less than ₦70,000. So, we are going to benchmark at ₦70,000,” he said.

Tinubu explained that renewing the hope of Nigerians extended to providing infrastructure that would improve their livelihoods and create an inclusive economy in which all could participate and benefit.

The President said the government was committed to reducing the cost of transportation with the introduction of Compressed Natural Gas-powered buses, which would be cheaper and more efficient.

He also assured the labour unions of providing buses that would be deployed across the country.