The Nigeria Labour Congress (NLC) President, Joe Ajaero, and the Trade Union Congress (TUC) President, Festus Osifo, have explained their decision to accept ₦70,000 as the new minimum wage for Nigerian workers.
They cited a significant change in the frequency of wage reviews from every five years to every three years as the primary reason for their agreement.
Speaking after a meeting with President Bola Tinubu at the State House in Abuja, Ajaero emphasized the importance of the new review timeline.
“The ₦70,000 figure reflects our current agreement, but the key aspect is that we no longer have to wait five years for a wage review. We can now negotiate at least twice within that period, with the next review scheduled in three years,” he said.
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Ajaero also mentioned other issues brought up during the meeting, such as concerns from the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union (NASU).
President Tinubu directed relevant agencies to address these issues, particularly the payment of university workers.
Osifo noted, “President Tinubu’s announcement of the ₦70,000 minimum wage will soon be finalized and sent to the National Assembly.
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“This decision aligns with our push for more frequent wage reviews, as economic conditions can change rapidly. The agreement to review wages every three years is a significant achievement.”
This development follows extensive discussions between labour leaders and the President, succeeding months of stalled negotiations involving a tripartite committee formed in January.
The committee, which included representatives from state and federal governments and the Organized Private Sector, had proposed ₦62,000, while labour demanded ₦250,000, arguing that the current ₦30,000 minimum wage was unsustainable amid rising inflation and living costs following the removal of petrol subsidy.
Information Minister Mohammed Idris confirmed that the ₦70,000 minimum wage agreement would be communicated to the National Assembly in the coming days.
