President Bola Tinubu has approved a new minimum wage of N70,000 for Nigerian workers, with a commitment to review the national minimum wage law every three years. This development comes after a meeting between the President and the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja on Thursday.

Bayo Onanuga, the Special Adviser to President Tinubu on Information and Strategy, confirmed the news in a statement on X. “President Bola Tinubu has approved N70,000 minimum wage for Nigerian workers with a promise to review the national minimum wage law every three years,” the statement said.

The President also expressed his intention to explore ways to assist the private sector and sub-national entities in implementing the new minimum wage. This marks the second meeting between President Tinubu and the labour unions within a week.

Labour leaders commended President Tinubu for his “fatherly gesture” in addressing the wage issue. Additionally, the President pledged to use his executive authority to resolve the outstanding four months’ salaries owed to university unions, further demonstrating his commitment to improving workers’ welfare.

The decision is seen as a significant step towards addressing the economic challenges faced by Nigerian workers and ensuring fair compensation for their efforts. The move to regularly review the minimum wage law also indicates a proactive approach to adapting to economic changes and maintaining the standard of living for the country’s workforce.