Nigeria’s president approves ₦70,000 minimum wage, pledges review every three years

President Bola Tinubu has approved a new minimum wage of N70,000 for workers in Nigeria. The development was announced in an X post by the Presidential aide Bayo Onanuga.

Per the post, Tinubu made the announcement during a meeting with leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the presidential villa on Thursday, the second time the parties met in 7 days.

On Tuesday, the Nigerian Labor Congress (NLC) warned of a possible month-long strike if the government attempted to deregulate the national minimum wage.

The President has also pledged to review the national minimum wage law every three years and to explore ways to assist the private sector and regional governments in meeting the minimum wage requirements.

“President Bola Tinubu has approved N70,000 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,” it read.

The Labour leaders applauded President Tinubu for the fatherly gesture as the President also promised to use his discretionary powers to meet the demands of university unions demanding unpaid 4 months’ salaries.