President Tinubu has approved a new minimum wage of N70,000 for Nigerian workers. This significant development was announced during a meeting with leaders from the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja.

The approval of this new minimum wage is a crucial step in improving the living standards of workers across the country. It reflects the government’s commitment to addressing the financial challenges faced by many Nigerians. President Tinubu also promised to review the national minimum wage law every three years to ensure that it remains fair and responsive to the economic realities of the country.

This decision comes at a time when many workers have been advocating for better wages to cope with rising living costs. The collaboration between the government and labor unions, such as the NLC and TUC, highlights the importance of dialogue and cooperation in achieving meaningful changes for the workforce.

Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy, said: “President Tinubu also promised to find ways to assist the private sector and the sub-nationals to pay the minimum wage.

“President Tinubu announced the decisions at the meeting held with leaders of TUC and NLC on Thursday in Abuja, the second time the parties met in 7 days.

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

The new minimum wage will provide a much-needed boost to the purchasing power of workers and is expected to have a positive impact on the economy. It underscores the administration’s commitment to supporting the welfare of its citizens and promoting social and economic development.