President Bola Tinubu has approved a new minimum wage of ₦70,000 for workers and committed to revisiting the national minimum wage law every three years.

The announcement was made on Thursday, July 18, 2024, by Bayo Onanuga, the president’s Special Adviser for Information and Strategy.

During a meeting in Abuja with leaders of the Trade Union Congress (TUC) and the Nigeria Labour Congress (NLC), President Tinubu discussed these decisions. Onanuga's statement quoted the president, saying, "President Bola Tinubu has approved ₦70,000 minimum wage for Nigerian workers and promised to review the national minimum wage law every three years."

President Tinubu also pledged to find ways to support the private sector and regional governments in paying the new minimum wage. This meeting marked the second time in seven days that the president and labour leaders had convened in Abuja.

Additionally, Tinubu promised to use his discretionary powers to address the demands of university unions seeking payment for four months of unpaid salaries. Onanuga noted that the labour leaders commended the president for his “fatherly gesture.”