President Bola Tinubu has approved a new minimum wage of N70,000 for Nigerian workers, with a pledge to review and update the national minimum wage legislation every three years.
This move aims to ensure that the minimum wage keeps pace with inflation and reflects the current economic reality, providing a better standard of living for Nigerian employees.
The president pledged to find ways to assist both the private sector and sub-national entities in fulfilling the new minimum wage requirement.
He made this commitment during a meeting in Abuja on Thursday, his second meeting with the leadership of the Trade Union Congress (TUC) and the Nigeria Labour Congress (NLC) within a week.