President Tinubu Sends ₦70,000 Minimum Wage Bill to National Assembly

By Iyojo Ameh

President Bola Tinubu has officially transmitted a national minimum wage bill to the National Assembly for consideration and passage. This move comes after the recent negotiations between the President and the leadership of the Organised Labour, resulting in an agreement on a new minimum wage of ₦70,000 for Nigerian workers.

Information Minister Mohammed Idris confirmed the submission, stating, “The new national minimum that Mr.

President is expected to submit to the National Assembly is ₦70,000.”

The agreement marks the end of a series of discussions between labour leaders and President Tinubu, which have been ongoing for several weeks.

These talks followed months of unsuccessful negotiations involving a tripartite committee on minimum wage, established by the President in January.

The committee included representatives from state and federal governments as well as the Organised Private Sector.

Initially, the tripartite committee proposed a new minimum wage of ₦62,000, while labour representatives demanded ₦250,000, a significant increase from the current ₦30,000. Labour argued that the existing wage was untenable due to rising inflation and the high cost of living, exacerbated by the removal of petrol subsidies by the President.

Despite initially demanding ₦250,000, Labour ultimately accepted the President’s offer of ₦70,000 during discussions last Thursday. Nigeria Labour Congress (NLC) President Joe Ajaero explained that Labour conceded to the ₦70,000 offer but rejected a counter-proposal by President Tinubu to set a ₦250,000 minimum wage conditional upon further petrol price increases.

Ajaero also noted that Labour agreed to the ₦70,000 minimum wage on the condition that the minimum wage review cycle would be shortened from five years to three years.

The transmission of the wage bill to the National Assembly follows President Tinubu’s announcement on June 12, 2024, during his Democracy Day speech, where he promised to send an executive bill on the new national minimum wage for workers to the legislative body for approval.

The National Assembly is expected to deliberate on the bill in the coming weeks, setting the stage for its eventual passage and implementation.