This is quite unpresidented, very first of its kind, its a move that has been prolong, overlooked and deserted for a longtime coming, this is a bite of fresh air coming from the presidency.
Over the years the Labour body which includes Trade Union congress (TUC) and Nigeria Labour Congress (NLC) has been conversing for a raise of the least pay among workers, prio to this time has been consistent--its almost like a festivity that is done annually, to revive feds to review the agreement they had with the labour body for several years in which that promise has lingered for these years unfulfilled. This is the reason why the industrial action, known as Strike has often times repeatedly taken place yearly to drum into the ears of the governemnt the crying financial depression of the people.
From the inception of the former Administration, the cost of living in Nigeria as repeatedly and continuously taken an upward toll on the people, the economy is finding it breathing really hard and the final burden as been on the common man, the final consumer, in such that one would literally have to use more money to buy very little items.
It took a different turn when the current admimistration took over power making shocking announcement from day one that Altered the entire economy, it was rather too sudden or it was such an untimely announcement that took everyone by surprise, the aftermath of the whole thing literally shattered the economy, with cost of living hitting its all time high, the cost of every item on the market rose by almost 100% , so in that case much money would be needed to match up this high cost of everything, such that as a salary earner whatever it is you get at the end of the day can only afford very little.
Before now the minimum wage was at 30,000.00($18.43) the least amount earned as a worker, this was inconsequential when compared to the high cost of living in the country, so at the end of time its absolutely nothing tangible to live on.
President Tinubu has Approved the 70,000.00 naira, that is approximately ($43) minimum wage yesterday at the presidential villa after the leadership of the TUC & NLC met with the president yesterday, President Bola Ahmed Tinubu also pledges to review the minimum wage every three years, he further assures Nigerians that he would ensure the private sector and sub-nationals comply to this new directives.
The special Adviser to the president Bola Tinubu on information and strategy, Bayo Onanuga, in a statement on X, confirmed the latest development
How ever this is a proposal that is to be vetted on by the national Assembly once approved will be implemented cut across all government parastatals
