- President Tinubu has approved N70,000 as the new minimum wage for workers in Nigeria
- This was announced by Bayo Onanuga, special adviser to Tinubu on Information and Strategy
- Nigerians reacted massively to the development
The end may finally be in sight for the National Minimum Wage saga as President Bola Tinubu has finally approved N70,000 as the new figure for Nigerian workers.
This announcement came during a meeting with leaders of the Trade Union Congress (TUC) and the Nigeria Labour Congress (NLC) in Abuja on Thursday, July 18, 2024. This was the second meeting between the parties in seven days.
This development was made known by Bayo Onanuga, the special adviser to the president on Information and Strategy, via his X page.
President Tinubu also pledged to review the national minimum wage law every three years to ensure it remains fair and reflective of economic realities.
In Onanuga’s words, “President Tinubu also promised to find ways to assist the private sector and the sub-nationals to pay the minimum wage.”
In response, Labour leaders reportedly applauded President Tinubu for what they described as a “fatherly gesture.”
During the meeting, Tinubu also “promised to use his discretionary powers meet the demands of university unions demanding unpaid 4 months salaries.”
Nigerians react to N70,000 minimum wage approval
@shittu10 said: Well, 133% increase on minimum wage is a massive jump. Also, agreeing to the 3-year review cycle instead of 5 years is also a very good one. God bless everyone for the final resolution. On to the next challenge @officialABAT
@royalcrews expressed: Dey play, the 33k minimum wage, how many governors they pay? Just dey play. All these is just to make sure the planned protest is rendered ineffective. We all know now. Our mumu don belleful.
@GabrielNaija asserted: Damage control mode - FULLY ACTIVATED!!! I hope you have packed your bags because protest must hold!
@hurpzy23 stated: "At least 100k but 70k is a no no in this economy sir."
@GabrielNaija simply said, “Still can’t buy a bag of rice.”
@iamdevine007 hilariously expressed: Lol… Una no rate Nigerian workers at all Baba buy jet for himself and build 21B mansion for VP He con dey give workers 70k for this economy, Nigerians workers over to u
@phychem11 shared: “Too poor. Minimum wage should be 100k+.”
@FknFootball said, "The last politician who kept to his word hasn't been born yet."
@UnlimitedEniola asked: "$39 should be celebrated right? It’s actually a big slap. Meanwhile, what’s the government doing on price control? Inflation? Unemployment? And food security?"
@DatMrCreamz: "That is $44 a month. Before this administration came in the minimum wage was $70 a month. Before APC came in, the minimum wage was about $100 a month. So we shouldn’t celebrate. We are progressively getting worse. From $100 to $70, now $44. Who knows maybe it will be $10 soon."
@yinkaisola14: "It's A News But Not Good One. 70k Minimum Wage Cannot In Any Way Solve The Present Economic Crisis In Families."
@watpapping shared: "Leave promises! We need to face reality! How can minimum wage not able to buy bag of rice? Are we going to live on promises? Which promise had the APC administration ever executed in due time? Review continues."
@oteessolutions1 reacted that: "Government officials, politicians, governors, Senate and HOR, and all political appointees must also earn a minimum wage. Let us change the salary structure. Without it. There is no need to keep deceiving ourselves."
@JakesOlasupo commented that, “Tinubu should put himself and his team on this minimum wage, too.”
@ChiefBellion quizzed: "The #70,000 New minimum wage approval by the president still amount to $30-35 in forex same as it was when it was approved to be #30,000. Progress or retrogression?"
@aluckiano also asked: "70k is still small compared to d bad economic situation. Reduce fuel price to 300 naira and see how things will fall into shape. How much is a bag of rice that u one to pay level 1 at work 70k? How much is house rent? Transportation and others?"
@hardeymolar04: "What can 70k do in this present situation in this country? So with all the noises of the NLC &TUC so the result of the outcome is 70k."
Federal Government reacts to New York Times report on Nigeria's economy
Meanwhile, TheRadar earlier reported that the report done by the New York Times publication, which analysed Nigeria's dire socio-economic conditions, provoked the Federal Government but impressed the citizens.
According to the report, Nigerians were experiencing the worst economic crisis in decades, with prices of food, medicine, and petrol too high for many to afford, and the government making it difficult for businesses operate.
