Several months of deliberation between government authorities, labour unions, and the private sector on new minimum wage ended as President Bola Tinubu signed The 70,000 per month bill into law on Monday at the State House, Abuja.
The President signed bill into law days after the National Assembly passed the bill.
It can be recalled that the three committee set out had earlier presented two figures in its report to the president sequel to the disagreement among the government, the private sector and organized labour.
While the organized labour demanded N250,000, government and the private sector on her part sector offered N62,000.
Briefing newsmen after the meeting with the President, Mohammed Idris, the Minister of Information and National Orientation said, Tinubu agreed to pay N70,000 instead of the initial N62,000 offered.
“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.
“More money is going to go into the acquisition of more buses, the CNG buses, Nigeria is going to be more CNG-compliant, according to the President.
“We’re moving in this transition to renewable and all other things Mr President has assured Labour, the issue of ASUU (Academic Staff Union of Universities), SSANU (Senior Staff Association of Nigerian Universities) and NASU (Non-Academic Staff Union of Educational and Associated Institutions) is also going to be looked at.
“We are happy, we are very thankful for the role organized labour has played. They recognized the Federal Government’s role in ensuring that we have local government autonomy, and also ensuring that both Labour and government are on the same page.
“They have seen the magnanimity of the President and today, the leadership of Labour said they didn’t come here for negotiation, not at all, they came here in that deep sense of patriotism to ensure that Nigeria remains united, Nigeria becomes more prosperous and it is in that spirit that they agree with what the Federal Government has done today.
“We want to thank Labour for their patriotism. We also want to thank Mr President, the Federal Government, the sub-nationals and Organized Private Sector for going through this painstaking effort but also ensuring that at the end of the day, Nigeria is the winner for it all.”
The delegations of the National Assembly which was led by the Senate President, God’sWill Akpabio and some members of the House of Representatives were present to witness the significant event.
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