President Bola Ahmed Tinubu has officially signed the new minimum wage bill into law, setting the national minimum wage at N70,000. The signing took place during the Federal Executive Council (FEC) meeting at the Council Chamber in the State House, Abuja.
The decision follows negotiations between the Federal Government and Organized Labour, which initially settled on N70,000 after differing proposals. The government and the private sector had suggested N62,000, while Organized Labour demanded N250,000.
Speaking to State House correspondents, the Minister of Information and National Orientation, Mohammed Idris, confirmed the President’s agreement to raise the minimum wage to N70,000 from the initial N62,000 offer.
Idris also announced that the President plans significant investments in infrastructure and renewable energy. This includes acquiring more CNG-compliant buses and addressing issues within the Academic Staff Union of Universities (ASUU), the Senior Staff Association of Nigerian Universities (SSANU), and the Non-Academic Staff Union of Educational and Associated Institutions (NASU).
The Minister praised Organized Labour for their patriotism and cooperation, emphasizing the collective effort to ensure Nigeria’s prosperity and unity. The new minimum wage is expected to be submitted to the National Assembly for legislation soon.
