President Tinubu Raises National Minimum Wage To N70,000, Promises Review In 3 Years

President Bola Tinubu on Thursday raised the national minimum wage from N62,000 to N70,000 and promised that it would be reviewed in three years, instead of the usual five.

At a meeting with leaders from the Nigeria Labor Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa, Tinubu explained that he stepped in to help with the wage negotiations due to the economic challenges many Nigerians face and the need for urgent relief.

"I have heard all your presentations. You came here with the intention to get something on behalf of your members. It has been tough globally. And if you review my track record, I have never been found wanting in ameliorating the problems of workers," he said, as per the State House's official website.

He added, "I belong to the people and to all of you in leadership. Without you, this job is not interesting. You challenged the thinking faculty of leadership, and we have reviewed the position. I have consulted widely, and when the tripartite committee submitted their reports, I reviewed them again and started to think and rethink."

Tinubu explained that he brought up the wage issue because there is a pressing timeline and both sides face economic challenges. He emphasized that despite having different roles and addresses, everyone is part of one country and should care for each other.

He compared the situation to driving, where attention is needed for speed limits and road warnings, which is why he called the meeting. He urged for a review period of three years, stating that two years is too short and confirmed that the minimum wage will be set at N70,000.

The president said that renewing hope for Nigerians means improving infrastructure to enhance their lives and create an economy that benefits everyone. He mentioned that the government plans to lower transportation costs by introducing Compressed Natural Gas-powered buses, which will be cheaper and more efficient.

He went on to promise the labor unions that these buses will be deployed nationwide. Furthermore, the government will review the entitlements of members of the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Universities and Allied Institutions (NASU).

Earlier this month, Tinubu emphasized on his administration's commitment to addressing these issues and ensuring the well-being of Nigerian workers.