New Minimum Wage For Nigerian Workers

The Federal Government and labour unions have reached a landmark agreement on a new minimum wage for Nigerian workers. After a series of negotiations, both parties agreed on a minimum wage of 70,000 naira (approximately $170 USD) per month.

       The breakthrough came during a meeting chaired by President Bola Tinubu at the State House in Abuja. The meeting was attended by leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), as well as government officials.

According to sources, the agreement was reached after intense negotiations that lasted several hours. The new minimum wage is expected to benefit millions of workers across the country, including civil servants, private sector employees, and pensioners.

The next step is for the executive to prepare a bill to be sent to the National Assembly for approval. The bill will seek to amend the existing minimum wage law and incorporate the new figure. Once approved, the new minimum wage will be implemented nationwide.

In a related development, a separate bill has been sent to the National Assembly to amend the 2024 budget and make provisions for the increase in wages. This move is aimed at ensuring that the government can fund the new minimum wage without putting a strain on the national treasury.

     The agreement has been hailed as a major victory for workers in Nigeria, who have been demanding a wage increase for months. The new minimum wage is expected to improve the standard of living for millions of Nigerians and boost economic growth.