N70,000 Alawee Very Soon - As President Tinubu approves a N70,000 minimum wage for Nigerian workers

N70,000 monthly allowance might be the new pay for upcoming corpers in the National youth service corps programme as President Tinubu just gave his approval for a new minimum wage of N70,000 for Nigerian workers. Although it hasn't been announced to corpers but it's a welcome development as we all know that corpers are always paid the minimum wage.

Tinubu approved it with a commitment to review the national minimum wage law every three years. This development was confirmed by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, in a statement released on Thursday.

According to the statement, President Tinubu made the announcement during a meeting with the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) at the Presidential Villa in Abuja. The meeting was attended by NLC President Joe Ajaero, TUC President Festus Osifo, and relevant federal ministers.

The President also promised to review the four-month salary arrears of university staff, a longstanding issue that has been a source of contention. The decision to increase the minimum wage and review the salary arrears is seen as a gesture of goodwill by the President.

The labour leaders welcomed the President's decision, acknowledging his willingness to engage with them and address their concerns. The agreement marks a significant breakthrough in the negotiations between the federal government and organized labour, which had previously been deadlocked over the minimum wage issue.

Initially, the federal government had proposed a minimum wage of N62,000, but labour unions had insisted on a higher amount of N250,000. The parties finally agreed on a compromise of N70,000, which will be submitted to the National Assembly for approval.

The Minister of Information, Mohammed Idris, confirmed that organized labour had agreed to the proposal, stating that "both the organized labour and the federal government have agreed on an increase from the proposed N62,000 minimum wage to N70,000." 

The new minimum wage is expected to benefit millions of Nigerian workers and marks a significant step forward in the country's efforts to address issues of poverty and income inequality.