President Bola Tinubu on Thursday increased the Federal Government’s offer on the national minimum wage from N62,000 to N70,000, with an assurance that it will be reviewed after three years, instead of five years.

Tinubu said he had to intervene in the negotiations, knowing the economic challenges faced by many Nigerians, and the need to provide urgent succour.

He said this at a meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), at the Presidential Villa, in Abuja.

New Minimum Wage: It’s the value, not the amount, Stupid

“I have heard all your presentations. You came here with the intention to get something on behalf of your members. It has been tough globally. And if you review my track record, I have never been found wanting in ameliorating the problem of workers.

“I belong to the people and to all of you in leadership. Without you, this job is not interesting,” the President said, in statement by Chief Ajuri Ngelale, his spokesman.

He said the labour leaders challenged the thinking faculty of leadership, “and we have reviewed the position. I have consulted widely, and when the tripartite committee submitted their reports, I reviewed them again and started to think and rethink.

“Last week, I brought the workload to you because we have a timeline. We have a problem, and we recognise that you have a problem too.

“We are in the same economy. We are in the same country. We may have different rooms, different addresses, and different houses; we are just members of one family that must care for each other.

“We must look at the parameters of things. Here, I have a speed limit, and I must pay attention to traffic warnings; slippery when wet, curved roads, and be careful not to have an accident. That is why I went as far as having this meeting today.”

He said the government and labour leaders were driving the economy together.

“Let us look at the tenure of review. Let us agree on that, and affirm three years. Two years is too short. We affirm three years. We will review.

“I am going to move from the tripartite committee. I am going to edge a little bit forward, looking at the review that we have done.

“Yes, no one in the federal establishment should earn less than N70,000. So, we are going to benchmark at N70,000,” he said.

Tinubu explained that renewing the hope of Nigerians extended to providing infrastructure that would improve their livelihoods and create an inclusive economy that all could participate and benefit.

The President said the government was committed to reducing the cost of transportation with the introduction of Compressed Natural Gas-powered buses, which would be cheaper and efficient.

He also assured the labour unions of providing buses that would be deployed across the country.

President Tinubu also said the entitlements of members of the Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Universities and Allied Institutions would be considered.

He urged the Ministries of Finance, and Budget & Economic Planning to look at the possibilities of clearing the backlog.

At the meeting, Sen. George Akume, the Secretary to the Government of the Federation, thanked the President for his consideration of issues as the “Father of the Nation” and scheduling two meetings to resolve the initial impasse.

“Mr President, at the tripartite meeting, and the resolutions of the government, Organised Private Sector and labour unions; we were all united as one family to promote and grow our economy, and deepen our democracy, by implication to the benefit of all.

“Basically, that is what we are saying today. We have a listening President here,” said Akume.

Comrade Joe Ajaero, the NLC President, and Comrade Festus Osifo, his TUC counterpart, thanked the President for creating time to host two meetings on the review of the national minimum wage.

The two labour leaders acknowledged that at the last meeting, the President directed the rescheduling of an official trip in order to attend the second meeting.

The labour leaders also expressed their appreciation to the President, applauding him for his clear show of commitment to the welfare of Nigerian workers.