Ruckus over N70,000 new national minimum wage
Introduction President Bola Tinubu signed into law N70,000 as the new national minimum wage on Monday, July 29, 2024 after the bill was expeditiously passed into law by the National Assembly. Hitherto, the minimum wage was N30,000. It was also agreed that due to inflationary trends, the new national minimum wage will be reviewed every three years rather than the statutory five years. This was no mean achievement for the Nigerian labour unions. They had hitherto asked for N250,000 but had to settle for N70,000 when government said that is the only condition that will make it not to increase the price of petrol. Unfortunately, despite this gentleman agreement, the Federal Government recently jerked up the price of petrol to above N800 per litre. Recall that on January 30, 2024 a 37-man Tripartite Committee to negotiate the new national minimum wage was inaugurated. It was headed by a former Head of Service of the Federation, Alhaji Bukar Goni Aji. The committee submitted its re...