President Bola Tinubu’s government has announced a shift in its approach to minimum wage reviews, NEWSMAX NIGERIA reports.
The disclosure was made by Minister of State for Labour and Employment, Nkeiruka Onyejeocha, on Thursday in Abia State.
She said the minimum wage will now be reviewed every two years, instead of the previous five-year interval.
Onyejeocha said that this new timeline is in line with President Bola Tinubu’s commitment to reviewing the minimum wage every three years.
“We are not going to allow minimum wage review to be forever. It used to be about five years, but now, in three years’ time, which is less than two years, we will also review the minimum wage,” she explained.
Last year, President Tinubu approved a N70,000 minimum wage, with a promise to review it every three years. The federal government has since implemented the new minimum wage, effective from July 29, 2024, following an agreement with the Labour Union.
Meanwhile, the Trade Union Congress has called for a yearly review of the minimum wage, citing rising inflation as a major concern.
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