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Nigeria’s President Bola Tinubu has approved the minimum wage increment to 70,000 naira (USD 45) from 30,000 naira (USD 20) previously. The new wage announced by Minister of Information Mohammed Idris and union leaders is more than double the 30,000 naira a month that was agreed in 2019.
Nigeria’s main labour unions also endorse the new minimum wage of 70,000 naira (USD 45) a month on Thursday after talks with the government, ending months of deadlock and the threat of strikes. Nigeria, Africa’s most populous nation is grappling with the worst cost of living crisis in a generation, stoking fears of Kenyan-style protests which have rocked that country for nearly a month.
Nigeria’s two biggest union federations, the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC), have argued that soaring prices and a weakening currency caused by reforms instituted by President Bola Tinubu were hitting workers hard. Soaring inflation has eroded incomes and hurt millions of Nigerians who are struggling to meet their basic needs.
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NLC is taking this new 70,000 naira minimum wage with mixed feelings because of the situation of the economy. Unions will have to move ahead despite the situation otherwise the negotiation can linger, stated NLC President Joe Ajaero. He said the next minimum wage would be reviewed in three years instead of the customary five years. Idris said Tinubu would send the proposal, which includes a provision to review the wage every three years, to parliament immediately for passage into law. Tinubu has said he will not roll back unpopular reforms, including electricity and gasoline price hikes.
