Organized labour leaders have accepted a new minimum wage of N70,000, following a pledge from President Bola Tinubu to review the wage every three years.
This decision marks a significant development in the ongoing negotiations over worker compensation in Nigeria.
On Thursday, President Tinubu announced the new minimum wage during a meeting with leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the State House in Abuja.
Joe Ajaero, president of the NLC, explained that the acceptance of the N70,000 minimum wage was largely due to the president’s commitment to a regular review.
“The president’s promise to reassess the minimum wage every three years was a key factor in our decision,” Ajaero said.
He was accompanied by Festus Usifo, president of the TUC, and other representatives of Nigerian workers, who also noted that additional incentives played a role in their acceptance of the offer.
In May, organized labour had declared an indefinite strike in response to the federal government’s refusal to raise the minimum wage from the previously offered N60,000. The strike, however, was suspended after two days, indicating a willingness to negotiate further.
The federal government had previously suggested various minimum wage figures, including N48,000, N54,000, and most recently, N62,000. Despite these offers, labour unions maintained that a living wage of N250,000 was necessary to meet the basic needs of workers.
On June 7, the Nigerian Governors Forum (NGF) expressed concerns that the proposed N60,000 minimum wage was unsustainable. This was followed by the submission of a report by the tripartite committee to George Akume, the Secretary to the Government of the Federation (SGF), on June 10.
The acceptance of the N70,000 minimum wage, coupled with the promise of regular reviews, represents a compromise between the government’s proposals and the unions’ demands. This development is expected to bring some stability and optimism to the Nigerian workforce, as both sides work towards improving the livelihoods of workers across the country.
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