Tinubu Proposes ₦70,000 Minimum Wage Bill to NASS

President Bola Tinubu has forwarded a national minimum wage bill to the House of Representatives in the National Assembly for deliberation and approval.

This move follows a recent consensus reached between the President and leaders of Organised Labour, agreeing on ₦70,000 as the proposed new minimum wage for Nigerian workers.

Last Thursday, the Information Minister, Mohammed Idris, confirmed that “the new national minimum wage expected to be submitted to the National Assembly is ₦70,000,” marking a significant breakthrough after prolonged negotiations.

The agreement culminates weeks of discussions between labour representatives and the President, bridging differences that emerged from earlier talks involving a tripartite committee established by the President in January.

Initially, the committee had recommended ₦62,000, while labour unions advocated for ₦250,000, citing economic pressures exacerbated by inflation and the removal of petrol subsidies.

Despite these disparities, Labour eventually accepted the President’s offer of ₦70,000, highlighting a compromise that also includes more frequent reviews of the minimum wage, shifting from a five-year to a three-year review cycle.

President of the Nigeria Labour Congress (NLC), Joe Ajaero, clarified that Labour’s acceptance of ₦70,000 came with a rejection of a separate proposal by President Tinubu to tie the wage increase to higher petrol prices. This decision underscores the delicate balance struck between economic realities and worker welfare.

The transmission of the wage bill to the National Assembly, occurring approximately six weeks after the President’s pledge in his June 12, 2024, Democracy Day address, signifies a pivotal step towards legislating a new minimum wage structure that addresses current economic challenges faced by Nigerian workers.