The leaders of organised labour said they accepted N70,000 as the new minimum wage after President Bola Tinubu pledged to review it every three years.
On Thursday, Tinubu approved N70,000 as the new minimum wage for workers in the country.
The president announced the minimum wage during a meeting with leaders of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) at the State House, Abuja.
Speaking after the meeting, Joe Ajaero, president of the NLC, said the offer was accepted because the president promised a review every three years.
Ajaero, flanked by Festus Usifo, president of TUC, and other representatives of Nigerian workers, said the unions agreed to the offer because of other incentives attached.
In May, organized organised labour declared an indefinite strike over the federal government’s refusal to increase the minimum wage from the N60,000 that it initially offered to pay workers.
However, the strike was suspended after two days.
The federal government had proposed a minimum wage of N48,000, N54,000, and most recently, N62,000.
However, the labour unions insisted on N250,000 as the living wage.
On June 7, governors under the aegis of the Nigerian Governors Forum (NGF) said the N60,000 minimum wage for workers is not sustainable.
On June 10, the tripartite committee submitted its report to George Akume, secretary to the government of the federation (SGF).
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