The Nigerian Labour Congress has formally accepted the government's offer of a N70,000 minimum wage.
According to a statement signed by NLC President Joe Ajaero, the union took the decision at its emergency National Executive Council meeting on Friday.
Mr Ajaero said the union “accepted the President’s offer of N70,000… as the new national minimum wage and the three-year period for its review.”
The union also explained the reasons why it accepted the government's offer.
“…this decision, although challenging and far from our initial demand, was taken in a spirit of solidarity and sacrifice for the Nigerian masses…”
PREMIUM TIMES reported on the protracted negotiations between the government and workers over the new minimum wage.
Negotiations began last year after Tinubu's administration removed gasoline subsidies, leading to skyrocketing prices for goods and services.
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