President Bola Tinubu' s proposed minimum salary of ₦70, 000 has the approval of Nigeria' s organized labor union leaders. This is a major step. This statement was released after the president and labor representatives met at the Presidential Villa in Abuja. Comrade Joe Ajaero, the president of the Nigeria Labour Congress (NLC), asserted that the unions accepted the offer because of the extra incentives and the president' s promise of a review every three years.

This is a shift from the previous minimum wage structure, which lacked a regular review process. Ajaero emphasized that, given the high expense of living that followed the elimination of the gasoline subsidy, the unions recognized the need for fair expectations. Comrade Festus Usifo, the Trade Union Congress (TUC) President, and other labor leaders flanked him. President Tinubu counseled labor leaders to set realistic expectations for the minimum wage during a meeting with them on Thursday. He had warned that the process would require a thorough evaluation of the available resources before deciding on the new minimum wage.

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The president announced during his Democracy Day speech on June 12, 2024, that the National Assembly will soon approve an executive legislation pertaining to a new national minimum wage for laborers. This commitment has now been met with the agreement reached with the labor unions. The Minister of Information, Mohammed Idris, announced on Thursday that the National Assembly would be informed in the coming days of the #70, 000 " agreed" amount. This implies that once the legislative process begins, the higher minimum wage for Nigerian workers would actually become a reality.