President Bola Tinubu of Nigeria has transmitted a national minimum wage bill to the House of Representatives for consideration and passage.
This bill proposes a new minimum wage of ₦70,000 for Nigerian workers, following an agreement reached last Thursday between the President and the leadership of the Organised Labour.
Information Minister Mohammed Idris stated that “the new national minimum that Mr President is expected to submit to the National Assembly is ₦70,000.” This decision comes after a series of negotiations between labour leaders and the President, following months of unsuccessful talks.
Initially, the tripartite committee on minimum wage, constituted by the President in January and comprising state and federal governments along with the Organised Private Sector, proposed ₦62,000. However, labour demanded ₦250,000, arguing that the current ₦30,000 minimum wage was unsustainable due to inflation and the high cost of living exacerbated by the removal of the petrol subsidy.
Despite their initial demand, labour accepted the ₦70,000 offer last Thursday. Nigeria Labour Congress (NLC) President Joe Ajaero mentioned that labour agreed to the new wage but rejected a proposal to pay ₦250,000 on the condition of increased petrol prices. Ajaero also highlighted that the minimum wage would now be reviewed every three years instead of five.
This wage bill’s transmission follows President Tinubu’s announcement during his Democracy Day speech on June 12, 2024, promising that an executive bill on the new national minimum wage would be sent to the National Assembly for passage.
