Nigeria’s President Bola Ahmed Tinubu has given his approval to a proposal aimed at more than doubling the country’s minimum wage from ₦33,000 to ₦70,000 following a meeting with the Nigeria Labour Congress (NLC) and the Trade Union Congress.
“We were here last week. And we are here now. What they have announced in terms of the amount of ₦70,000 happens to be where we are now. But the thing about it is that we will not wait for another five years to come and agree,” Joe Ajaero, the NLC’s president, remarked.
This endorsement follows weeks of intensive negotiations between the NLC and the government. Initially, the NLC had proposed a minimum wage of ₦200,000, citing the impact of inflation and a rising cost of living as justifications for the substantial increase. However, the federal government countered with concerns over existing large overhead costs, ultimately offering ₦70,000 and committing to reassess the minimum wage every three years.
Recognizing that several states in Nigeria are already grappling with the current minimum wage, President Tinubu pledged to support both state governments and the private sector in implementing the new wages, though he did not provide specific details regarding this support.