Will NLC Settle For This? Tinubu Approves 70k for Minimum Wage

President Bola Tinubu has approved a new minimum wage of ₦70,000 for workers across the country. 

This decision, announced during a meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja, signals a potential turning point in the ongoing struggle for fair wages. But the question on everyone’s mind is: will the NLC settle for this?

A promising start

During the meeting, President Tinubu emphasized his commitment to improving the living standards of Nigerian workers. He also made a notable promise to review the national minimum wage law every three years. 

Bayo Onanuga, the Special Adviser to the President on Information and Strategy, highlighted that Tinubu is also exploring ways to assist the private sector and sub-national governments in implementing this new minimum wage. 

Labour leaders’ mixed reactions

At the meeting, labour leaders expressed their gratitude for what they termed a “fatherly gesture” from the President. 

They appreciated the President’s willingness to use his discretionary powers to address the demands of university unions, including the payment of unpaid salaries.

However, beneath the surface, there is an undercurrent of skepticism. The NLC has been vocal and persistent in their demands for a more substantial increase in the minimum wage. 

Their history of on-and-off negotiations with the federal government highlights a long-standing dissatisfaction with the status quo.

Many within the labour movement are questioning whether ₦70,000 is enough to meet the basic needs of Nigerian workers, given the current economic climate.

The realities of the new minimum wage

While ₦70,000 might seem like a significant improvement from the previous minimum wage, it’s important to consider the realities faced by many Nigerian families. The cost of living has been on a steady rise, with prices of basic commodities such as food, transportation, and housing increasing rapidly.

For many workers, a higher minimum wage is not just about better pay, but about achieving a decent standard of living.

Moreover, the effectiveness of this new minimum wage will depend heavily on its implementation.

Ensuring that both the private sector and sub-national governments comply with the new wage structure is crucial. Without proper enforcement, the promise of a ₦70,000 minimum wage might remain just that—a promise.

What to expect

President Tinubu’s approval of a ₦70,000 minimum wage and his commitment to regular reviews are undoubtedly steps in the right direction. 

Would the NLC, TUC, and other stakeholders continue to hold the government accountable, ensuring that this new wage structure is effectively implemented and regularly reviewed?