Nigerian President Increases Minimum Wage to N70,000, Promises Review After Three Years
In a move aimed at providing relief to Nigerians struggling with economic challenges, President Bola Tinubu has increased the national minimum wage from N62,000 to N70,000. The President made the announcement during a meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja.
According to the President, the decision was made after careful consideration of the economic challenges faced by many Nigerians and the need to provide urgent succour. He emphasized that the government and labour leaders are working together to drive the economy forward and create an inclusive economy that benefits all.
The President also assured that the entitlements of members of the Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Universities and Allied Institutions would be considered. He urged the Ministries of Finance and Budget & Economic Planning to look into the possibility of clearing the backlog.
In his statement, President Tinubu emphasized the importance of working together to overcome the challenges facing the country. He said, “We are in the same economy. We are in the same country. We may have different rooms, different addresses, and different houses; we are just members of one family that must care for each other.”
The President also announced that the government would be introducing Compressed Natural Gas-powered buses, which would be cheaper and efficient, to reduce the cost of transportation. He assured the labour unions that buses would be deployed across the country.
The labour leaders, including NLC President Joe Ajaero and TUC President Comrade Festus Osifo, thanked the President for his commitment to the welfare of Nigerian workers and for creating time to host two meetings on the review of the national minimum wage.
The President’s decision to increase the minimum wage has been welcomed by many Nigerians, who are hoping that it will bring some relief to their daily struggles. With the promise of a review after three years, the President’s move is seen as a step in the right direction towards improving the living standards of Nigerian workers.
