Nigeria has increased its minimum wage to N70,000 (about $43) per month. The decision was made following extensive negotiations between the federal government and organized labor unions, including the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).
The agreement was announced after a meeting with President Bola Tinubu, who also committed to reviewing the minimum wage every three years instead of every five
This increase comes as a response to economic challenges and the need for improved living standards for workers.
The government initially proposed N62,000, while labor unions demanded N250,000 before settling on N70,000. The new wage will be presented to the National Assembly for legislation
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