₦70,000 Minimum Wage: This Is Major Breakthrough – Presidency

The presidency has described the ₦70,000 minimum wage approved by President Bola Tinubu after meeting with organized labour on Thursday as a major breakthrough.

The Senior Special Assistant to President Tinubu on Media and Publicity, Temitope Ajayi, said the President showed leadership by interfacing with organized labour in the minimum wage negotiation.

Ajayi advised labour to work out what would be the consequential adjustment for workers already earning above the minimum wage.

“The federal government achieved a major breakthrough today with the labour movement on the new national minimum wage.

“President Tinubu showed leadership by taking over the negotiations and by ensuring good resolution.

“Now, the task before organised Labour is to match the new age and what will be the consequential adjustments on workers already earning above minimum wage with national productivity.

“The consensus has always been that there was a need for a wage review in the face of the current cost of living challenges,” Ajayi said on his X handle on Thursday.

He added that the three years timeline approved by President Tinubu, as duration for adjustment of minimum wage in place of the previous fives years, was a welcome development.

“The icing on the cake: as against 5 years review, wage will now be adjusted every 3 years,” Ajayi added.

Naija News had reported that President Tinubu would transmit the approved ₦70,000 minimum wage to the National Assembly on Tuesday.