The Federal Government and organized labour have agreed on a new minimum wage of N70,000 for Nigerian workers.
Minister of Information and National Orientation, Mohammed Idris, announced the agreement on Thursday following a meeting between President Bola Tinubu and leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the State House, Abuja. Idris stated that both the Government and the Labour center have settled on N70,000 as the salary for the least paid worker in the country.
Prior to this agreement, the Federal Government had proposed N62,000 as the minimum wage, while Labour demanded N250,000 for the lowest-paid worker. Idris also mentioned that the minimum wage will now be reviewed every three years instead of the current five-year interval.
He added that additional incentives are being developed to accompany the new minimum wage, with more details to be provided later.