Tinubu Submits ₦70,000 Minimum Wage Bill to National Assembly

President Bola Tinubu has officially submitted a bill proposing a new national minimum wage of ₦70,000 to the House of Representatives for consideration and approval. This move follows a recent agreement reached between the President and Organised Labour on Thursday.

Information Minister Mohammed Idris confirmed that the bill aligns with the agreed minimum wage figure, emphasizing the President’s commitment to enhancing workers’ earnings.

The agreement between the government and Labour comes after prolonged negotiations, including failed talks involving a tripartite committee established by the President in January. The committee had initially proposed ₦62,000, while Labour demanded ₦250,000, arguing that the current ₦30,000 wage is insufficient given the economic challenges and inflation post-petrol subsidy removal.

Despite initially demanding ₦250,000, Labour accepted the ₦70,000 offer following assurances that wage reviews would occur every three years, rather than the previous five-year cycle.

This development follows President Tinubu’s promise on June 12, 2024, during his Democracy Day speech, to present an executive bill on the minimum wage.