Why NLC and TUC Accepted N70,000 Minimum Wage | DETAILS REVEALED

NLC and TUC leaders explain their acceptance of the N70,000 minimum wage, emphasizing the benefit of wage reviews every three years under President Tinubu’s administration.

The Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) have explained their decision to accept the new N70,000 minimum wage proposed by President Bola Tinubu’s administration. The key factor in their acceptance was the agreement to review wages every three years instead of every five years.

Speaking after a pivotal meeting at the Presidential Villa, NLC President Joe Ajaero, alongside TUC President Festus Osifo, confirmed the unions’ approval of the new wage structure. Ajaero emphasized the importance of more frequent wage reviews, stating, “Rather than waiting five years for a wage review, we now have the opportunity to negotiate at least twice within that period.”

Osifo added, “The commitment to a triennial review process was crucial. Economic conditions can change rapidly, and this agreement allows us to address wage concerns more responsively.”

President Tinubu announced the N70,000 minimum wage increase on Thursday, assuring that the federal government would support sub-national and private sectors in implementing the new wage. This move is part of a broader strategy to improve living standards and economic stability for Nigerian workers.