Minimum wage to be reviewed every 3 years — FG

The new N70,000 minimum wage adopted by the Federal Government after consultation with the Organised Labour on Thursday will be reviewed after three years.

Alhaji Mohammed Idris, Minister of Information and National Orientation, said this while addressing State House correspondents.

He disclosed this after the meeting between representatives of the Federal Government led by President Bola Tinubu and the Organised Labour.

The Minister also said President Tinubu agreed that the national minimum wage review would no longer be done every five years.

Idris also said President Tinubu would perfect the proposal on the new minimum wage in a bill to be forwarded to the National Assembly next week.

“We’re happy to announce today that both the federal government and Organised Labour have agreed on an increase on the N62,000.

“The new national minimum wage that we expect to be submitted to the National Assembly for legislation is N70,000.

“But that is not all. Mr President has assured of massive investment in infrastructure. There is also a deepening of the investment of the Federal Government in renewable energy,” he said.