Nigeria's President Tinubu Implements New Minimum Wage Amid Growing Economic Challenges
President Bola Tinubu's government in Nigeria has enacted a new minimum wage law, pegging the monthly minimum wage at 70,000 naira ($44) after extensive negotiations with labor unions. Initially demanding much higher figures, unions grudgingly accepted the lower amount due to accompanying benefits and the promise to review the wage law every three years. This move is aimed at mitigating potential strikes amidst escalating living costs and inflation.