“Minimum Wage Update: Federal Gov’t and Labour Sign MoU for Salary Adjustments”

Babatunji Wusu –

– Agreement reached on salary adjustments under the new National Minimum Wage Act, 2024.
– The minimum wage increased from ₦30,000 to ₦70,000, approved by President Bola Tinubu.
– The 16-member committee was praised for its swift and peaceful negotiations.
– Signed MoU to be forwarded for implementation by the federal government.

The federal government and labor unions have successfully reached an agreement on the consequential salary adjustments resulting from the new National Minimum Wage Act, 2024. This agreement was formalized through a Memorandum of Understanding (MoU) signed following the work of a 16-member committee established to determine the necessary salary adjustments.

Inaugurated two weeks ago, the committee was tasked with aligning salaries with the newly approved minimum wage of ₦70,000, as mandated by President Bola Tinubu. The increase from ₦30,000 to ₦70,000 was officially approved on July 18, 2024. The committee was chaired by Mrs. Didi Walson-Jack, the Head of the Civil Service of the Federation.

During the MoU signing ceremony in Abuja over the weekend, Mrs. Walson-Jack commended the committee members for their dedication and collaborative spirit. She noted, “Both the trade union and the government sides have agreed on the Consequential Adjustments in Salaries arising from the new minimum wage of ₦70,000.” All committee members reviewed and signed the MoU, with copies distributed to both government and labor representatives.

Walson-Jack described the negotiations as one of the shortest and most amicable in recent history, stating that the signed MoU would be forwarded to the federal government for implementation. Comrade Benjamin Anthony, National Chairman of the Joint Negotiating Council and labor representative, also expressed satisfaction with the outcome, highlighting the effective leadership of Mrs. Walson-Jack and the fruitful collaboration between the parties.