The new minimum wage of N70,000 was agreed upon yesterday by the federal government and Organized Labor.
Following a meeting between President Bola Tinubu, representatives from organized labor, and certain government team members on the tripartite committee on the new national minimum wage, an agreement was achieved.
Recall that due to disagreements between the government, the business sector, and organized labor, the tripartite committee submitted two figures in its report to the President.
Organized labor wanted N250,000, while the government and corporate sector provided N62,000.
Mohammed Idris, the Minister of Information and National Orientation, told State House reporters that President Tinubu decided to pay N70,000 instead of the original offer of N62,000 during their meeting with the President yesterday.
“Today is a happy day for Nigeria,” he declared. As you may remember, we met here last week, and after the tripartite agreement was turned in to the President, the organized private sector and the sub-nationals also met with him on a number of occasions.
“Work started last week.” Mr. President was a guest of their gathering. They requested a one-week delay so they could continue their consultations. Those consultations were conducted by them. They returned yesterday, and we had a meeting with the President.
However, that’s not all. Additionally, there is a boost because the President has promised to ensure that significant investments will be made in infrastructure. Additionally, the federal government is investing more in renewable energy.
