ABUJA — THE Federal government and Organized Labour yesterday settled for N70,000 as the new minimum wage.
The agreement was reached after the meeting between President Bola Tinubu and the leadership of organized labour as well as some members of the government team on the tripartite committee on the new national minimum wage.
Recall that the tripartite committee had submitted two figures in its report to the President as a result of disagreement among the government, the private sector and organized labour.
While the government and the private sector offered N62,000, organized labour demanded N250,000.
Speaking to State House correspondents after the meeting with the President yesterday, the Minister of Information and National Orientation, Mohammed Idris, said President Tinubu agreed to pay N70,000 from the initial offer of N62,000.
He said: “Today’s (yesterday) a happy day for Nigeria. You recall that last week, we had a meeting here and the Organized Private Sector and the sub-nationals have also held their various meetings with Mr. President, following the submission of the tripartite agreement to Mr. President.
“Labour came last week. They had a meeting with Mr. President. They asked for an adjournment for a week to go and consult further. They did those consultations. They came back today (yesterday) and we have met with Mr. President.
FG, Labour agree on N70,000
“We’re happy to announce that both the Federal Government and Organized Labour have agreed on an increase on the N62,000. The new national minimum wage that we expect to submit to the National Assembly for legislation is N70,000.
“But that is not all. There is also a boost, Mr. President has assured to ensuring that massive investment is going to be made in the area of infrastructure. There is also a deepening of the investment of the Federal Government in renewable energy.
Just look at folktales by old men. Can 70,000 buy you a bag of rice and sort other basic needs per month?.