The Federal Government of Nigeria and organized labour have agreed on a new National Minimum Wage of 70,000 Naira. This decision was reached during a recent meeting between President Bola Tinubu and the leadership of organized labour at the Presidential Villa in Abuja.
The announcement was made by the Minister of Information and National Orientation, Mohammed Idris, at the conclusion of the meeting. Labour leaders present included Joe Ajaero, President of the Nigerian Labour Congress (NLC), and Festus Osifo, President of the Trade Union Congress (TUC).
The agreement on the new minimum wage marks a significant development in the ongoing negotiations between the government and labour unions, aimed at addressing the economic challenges faced by Nigerian workers. The labour unions had been advocating for a substantial increase in the minimum wage to reflect the rising cost of living and inflation.
During the meeting, President Tinubu emphasized the government’s commitment to improving the welfare of Nigerian workers. He stated that the government would make substantial investments in facilities and infrastructure to enhance the quality of life for workers. These investments are expected to cover various sectors, including healthcare, education, transportation, and housing.
The new minimum wage is seen as a crucial step towards alleviating the financial struggles of Nigerian workers and ensuring that they can meet their basic needs. The labour leaders expressed their appreciation for the government’s willingness to engage in constructive dialogue and address their concerns.
The agreement is expected to bring some relief to workers across the country and boost their morale. It also underscores the importance of collaboration between the government and labour unions in achieving socio-economic stability and development.
The implementation of the new minimum wage will likely involve additional discussions and planning to ensure that it is effectively rolled out across all sectors. Both parties have expressed their commitment to working together to ensure a smooth transition and address any potential challenges that may arise.
Overall, the agreement on a 70,000 Naira minimum wage is a positive development for Nigerian workers, reflecting the government’s recognition of their contributions and the need to support their well-being in a challenging economic environment.