The Nigerian Senate has approved the N70,000 National Minimum Wage. Recall that President Tinubu submitted the national minimum wage bill to the Senate for their review and approval on Tuesday, July 23.
The bill speedily scaled second and third readings, minutes after it was transmitted by President Bola Tinubu.
In a unanimous vote after a clause consideration in the Committee of the Whole, the National Minimum Wage Bill scaled third reading and was passed.
The truce between the government and labour sides followed a series of talks between labour leaders and the President in the last few weeks after months of failed talks between labour organs and a tripartite committee on minimum wage constituted by the President in January.
Labour had insisted on N250,000 minimum wage stating that N30,000 was unsustainable for any worker going by the economic vagaries of inflation and high cost of living which followed the removal of petrol subsidy by the President.
However, Labour accepted the President’s offer of ₦70,000 last Thursday.
The President of the Nigeria Labour Congress (NLC), Joe Ajaero, said Labour accepted ₦70,000 and rejected a proposal by President Bola Tinubu to pay ₦250,000 minimum wage on a condition to increase petrol prices.
