NEWS
Tinubu Sneaks-In N35,000 Minimum Wage, Claims Talks With Organised Labour
President Bola Ahmed Tinubu has revealed that his government is already paying a minimum wage of N35,000 already in talks with organised labour and other tiers of government to ensure uniform implementation in Nigeria.
He made the disclosure while speaking to Editors of The Nation newspaper, who voted him as Person of the Year.
He assured that when a formal agreement is reached with organised labour, the coming wage structure would be practical, sustainable and implementable by all layers of government.
On his journey so far as Nigeria’s President, he pointed to the economic reforms introduced by his government, which he claimed have been manifesting positive dividends.
These, according to him, include $616m in Foreign Direct Investment (FDI) pledges.
Reminded about the current cost-of-living crisis in the country caused by spiraling inflation, high petrol price, and currency devaluation, Tinubu said, “As your President, I am deeply aware of the economic crisis’s severe impact on Nigerians, and we are part of a global challenge with the rising costs of living.
“To help our people, my administration is taking proactive steps. We are focused on providing financial support to businesses and ensuring the availability and affordability of staple foods, which are essential for every Nigerian family.
“One of our key initiatives is the provision of N25,000 monthly to 15 million households, for a three-month period. To further support food security, we’re working with our partners, local and international, to improve agricultural practices and provide essential resources to farmers.
“In addition, the National Single Window Project is being implemented to enhance international trade efficiency.
“All these efforts are in line with our commitment to reducing the economic burden on our citizens, especially the working class and vulnerable groups.”
According to him, the reallocation of funds from the removal of the petrol subsidy is also “a strategic move to bolster our government’s finances, contributing to a stable economic environment for all.”
He added, “In our commitment to ease the economic strain on our citizens, particularly the working class and vulnerable groups, my administration is championing the shift to cleaner energy sources.
“We recognize the benefits of Compressed Natural Gas (CNG) in providing an affordable and cleaner mass transit system. To facilitate this, we have waived the Value Added Tax (VAT) on CNG purchases.
“Additionally, to reduce the costs in food transportation and manufacturing, we’ve also waived VAT on diesel for six months.”
He acknowledged that “these massively important reforms have been hard” but pointed out that they have started yielding positive results for the country.
His words, “The dividends are already manifesting, with even more in sight. We have already seen improvements in our economic outlook, as corroborated by the likes of Fitch and Moody’s. These may seem ‘academic’ to many but the impact on investor confidence is significant.”
Asked to respond to criticism of the cash transfer initiative of his government, which some see as superficial and incapable of addressing the level of poverty in the land, Tinubu insisted that he remains steadfast in “my belief in the efficacy of our cash transfer initiatives.”
He said, “These initiatives are a crucial part of our strategy to target and provide relief to the most vulnerable segments of our population, especially during the last three months of the year when the prices of basic items typically rise.
“This is not just about providing temporary support; it’s about strategically delivering assistance when it’s needed most. We continue to work closely with all key stakeholders – including state governments, civil society groups, international partners, and private sector entities like telcos and fintechs – to refine these programs. Moreover, we urge all Nigerians to be mindful of the current economic situation and avoid exploiting it for abnormal profits.
“In addition to these cash transfers, my administration is deeply committed to empowering micro, small, and medium-sized enterprises, along with nano businesses. Significant financial support is being directed to these enterprises to foster human capital development, economic growth, and financial inclusion.
“For instance, through the Ministry of Communications, Innovation, and Digital Economy, we launched the 3MTT programme, aiming to develop technical talent across Nigeria in fields such as software engineering and cloud computing. This program is designed not just to aid businesses but also to enable our youth to participate in the global gig economy, earning competitive wages while contributing to our nation’s growth.
“Our interventions extend beyond what some may call ‘cash handouts’. They are about creating a sustainable environment where Nigerians can innovate and thrive.
“By focusing on sectors like digital and creative industries, we are fostering growth and job creation, harmonizing efforts between monetary and fiscal bodies to build a stronger, more resilient Nigeria.”
On the planned new wage structure, why it is yet to take off and fears about the ability of some of the states to implement it when the last one has not even been fully adopted all over the country, the president said, “I understand the concerns regarding the unveiling of the new minimum wage and how states will manage these changes, especially those with fewer resources.
“To address this, my administration has approved a provisional increase in the federal minimum wage to N35,000 per month for a six-month period, two months of which have already been paid. This decision follows extensive consultations with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).
“In managing the situation with the states, we are working closely with them to ensure the new wage structure is practical and sustainable. It’s important that each state’s unique financial situation is considered.
“We are focused on strategies to help states strengthen their economies, considering factors like tax efficiency and economic diversification.
“We are committed to ongoing dialogues with labour unions and state governments. This collaborative approach is crucial to ensure that the new minimum wage is fair, reasonable, and implementable across all states.
“Our goal is to balance the economic well-being of our workers with the overall financial health of the nation.
“We ask Nigerians to rest assured that my administration will not rest until we have delivered a sustainable solution in the best interest of Nigerians.”
Tinubu, in response to a question on the benefits of his economic missions to some parts of the world so far, said, “It is essential to place our initiatives within the broader context of our economic recovery and growth strategy. This strategy encompasses several key reforms, including the removal of fuel subsidies, the unification of the naira’s exchange rates, the adoption of the customs single-window, the streamlining of our tax system and enhancement and diversification of our revenues.
“These strategic moves are designed to enhance liquidity and create a more attractive investment environment for both domestic and foreign investors, thereby stimulating sustainable growth.
Foreign Direct Investment (FDI) is not ‘chicken change’. FDI is substantial, long-term financial commitments made by serious enterprises and investors.
“What is happening right now is that Nigeria is re-engaging with the global market – both foreign and domestic investors. We are telling the story of our significant and far-reaching reforms and rebuilding confidence in Nigeria as an accessible and safe investment.
“We are clearly communicating that ‘Nigeria is open for business’ and that the direction of travel is clear and fully committed.
“So far, our pursuit of foreign direct investment has been met with positive outcomes. We’ve secured a $500 million deal with Germany to fund renewable energy projects, particularly in rural Nigeria.
“Additionally, through local enterprises, Nigeria will supply LNG yearly to Germany, starting in 2026, solidifying our role as a key global energy partner. Our focused efforts to attract European FDI are yielding fruit, notably with the $116 million French investment in the I-DICE program, aimed at creating 65,000 start-ups and 150,000 jobs, particularly empowering women.
“As announced on the side-lines of COP28 in Dubai, we’re deploying 100 electric buses nationally, affirming our commitment to sustainable, eco-friendly initiatives and creating a platform for Public-Private-Partnerships in the mass transit category.
“Since this announcement we have received serious requests for co-investment opportunities from within Nigeria and across the world – Europe, India, China and the Middle East, key global markets my administration has been energetically engaging with.”
The Obiafu-Obrikom-Oben (OB3) gas pipeline is ready for first gas, while the Ajaokuta-Kaduna-Kano (AKK) gas pipeline has reached 95 percent completion.
The Nigerian National Petroleum Company Limited (NNPC Ltd) disclosed this in its July 2026 monthly report, adding that pre-commissioning activities at the OB3 River Niger Crossing had been completed in August in preparation for first gas.
In the NNPC Ltd report, OB3 was put at 100 percent, and AKK at 95 percent complete. “OB3 River Niger Crossing: Pipeline pre-commissioning activities completed in readiness for First Gas in August 2026,” the report stated.
On the AKK project, the national oil company said construction and installation works had reached an advanced stage, with the pipeline expected to deliver early gas to Abuja in 2026.
“AKK (Early Gas): Construction and installation works are at an advanced stage to deliver early gas to Abuja in 2026,” NNPC Ltd stated.
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The two projects form part of NNPC Ltd’s gas infrastructure development programme aimed at expanding gas transportation infrastructure.
The OB3 pipeline is designed to connect gas supplies across the eastern and western parts of the country, while the AKK pipeline is being developed to transport gas to Abuja and onwards to northern parts of Nigeria.
However, the July report did not provide further details on the expected capacity or commissioning date of the AKK pipeline beyond stating that early gas would be delivered to Abuja in 2026.
Earlier in April, the NNPC Ltd announced that it had completed the long-anticipated River Niger crossing of the OB3 gas pipeline, unlocking a critical segment of the country’s gas transmission network and paving the way for increased supply to power plants and industries.
The feat, delivered by the NNPC Gas Infrastructure Company, a subsidiary of NNPC Ltd, involved drilling approximately two kilometres beneath the River Niger using advanced horizontal directional drilling technology, a method deployed in complex engineering terrains.
Announcing the development in a statement by the Chief Corporate Communications Officer of NNPC, Andy Odeh, the company said the milestone effectively activates the full capacity of the 130-kilometre OB3 pipeline, designed to transport up to 2 billion standard cubic feet of gas per day.
The pipeline is to significantly strengthen energy availability, enhance supply reliability, and accelerate national economic development.
The company noted that the completion would, in the near term, unlock over 500 million standard cubic feet per day of additional gas supply for the domestic market, with positive implications for electricity generation, manufacturing, and exports.
The Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, noted that the OB3 pipeline remains central to Nigeria’s ambition of building an integrated and resilient gas network.
“I commend everyone involved for their doggedness and for staying the course to deliver this strategic national asset,” he said.
Ojulari also linked the project to the Federal Government’s broader energy targets, including plans to increase crude oil production to 3 million barrels per day and gas output to 12 billion standard cubic feet per day by 2030.
Started in 2016, the $700m OB3 pipeline has missed several completion deadlines before this latest announcement.
The Federal Government has come under scrutiny for not doing enough to ensure that prices in the oil industry are kept within the reach of ordinary people, by ensuring that local refineries get adequate crude supplies from the domestic oil industry.
The Nigeria Labour Congress (NLC) lamented that Nigeria’s leading domestic refiner, the Dangote Petroleum Refinery and Petrochemicals (DPRP) gets inadequate supplies of crude from the local oil industry, while the government watches helplessly.
The acting General Secretary of the NLC, Benson Upah, was cited by The Punch as taking the stance in an interview on Tuesday, while reacting to the latest increase in petrol prices.
Upah was reacting to the latest increase in the price of Premium Motor Spirit (PMS), popularly known as petrol, and was emphatic that the upward review of price was both “avoidable and unacceptable” because the development would further compound the economic difficulties confronting ordinary Nigerians, particularly workers and low-income households already struggling with high transportation, food and other living costs.
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He said, “This adds to the increasing difficulties of the average Nigerian for whom life has been Hobbesian.”
The labour leader argued that the latest increase was difficult to justify, particularly against the backdrop of developments in the international oil market and Nigeria’s growing domestic refining capacity.
According to him, “The latest increase is avoidable and unacceptable in light of falling prices in the international market and our local capacity to sell more crude oil to Dangote. Why are we not doing so?”
The NLC’s reaction came against the backdrop of another increase in the price of petrol by the Dangote Petroleum Refinery, which has triggered fresh concerns among motorists, transport operators and businesses already grappling with high operating costs.
The refinery raised its petrol gantry price by N65 per litre on Saturday, moving it from N1,200 to N1,265 per litre. The latest adjustment came only three days after the company increased the price from N1,185 to N1,200 per litre.
It was the third price adjustment by the refinery in eight days. On August 21, the company had raised its gantry price from N1,165 to N1,185 per litre. In all, the three adjustments have added N100 to the price of petrol at the refinery’s gantry, representing an 8.6 per cent increase within just eight days.
The latest increase has since begun to reverberate across the downstream market, with petrol prices varying from one location to another as marketers factor in transportation, logistics and other distribution costs.
In some parts of Lagos and Ogun, petrol has been reported at about N1,310 per litre, while prices in some northern states and areas farther from the refinery have climbed to N1,350 and above. In some locations, the product is approaching N1,400 per litre.
The renewed price increase is coming at a particularly sensitive time for Nigerians, many of whom are still struggling with the impact of the removal of the petrol subsidy in 2023.
The subsidy removal fundamentally altered the petroleum pricing regime, exposing consumers to movements in crude oil prices, foreign exchange rates and other market costs. Petrol prices, which were previously heavily regulated by the government, have since undergone several increases, with each adjustment feeding into the cost of transportation and other essential goods and services.
The latest development has also revived an old but unresolved question in Nigeria’s petroleum sector: why does a crude-producing country with a major new refinery still face persistent pressure on petrol prices?
The question has become more prominent with the emergence of the DPRP, which has a capacity to process in excess of 650,000 barrels of crude oil daily and was expected to reduce Nigeria’s dependence on imported refined petroleum products.
But while the refinery has ramped up production, securing adequate quantities of Nigerian crude has remained a contentious issue.
OPay has called for an investigation by the Department of State Services and the Nigeria Police Force over a viral social media rumour claiming that the fintech company was shutting down its operations in Nigeria.
OPay’s Chief Legal Counsel, Akinfolabi Rokosu, disclosed this on Wednesday during a press conference organised by the company.
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Rokosu said the DSS and police were among the law enforcement agencies investigating the circulation of the false information, adding that OPay had provided evidence to help identify those responsible.
“While the DSS and the Nigeria police, among the relevant law enforcement agencies, are currently and intensively investigating this matter, we are fully cooperating with the ongoing investigations being conducted and have provided the necessary evidence to identify those responsible for it,” he said.
He added that OPay would take legal action against individuals responsible for creating and circulating the information.
“Opay is taking action against those responsible for creating and circulating this harmful information. We will pursue them and will ensure that the law is fully enforced,” Rokosu said.
Also speaking, OPay’s Chief Operating Officer and Chief Technical Officer, Dotun Adekunle, reassured customers that the company remained operational and had no plans to leave Nigeria.
“OPay is here, OPay is operating, and OPay is going nowhere,” he said.
Adekunle described the circulating message as false and noted that the alleged shutdown date mentioned in the message had already passed.
“The message that is circulating online is false. It did not come from OPay. There is no decision from OPay or by OPay to shut down its operations in Nigeria, and there is no indefinite leave,” he said.
He urged customers not to make financial decisions based on unverified messages shared on social media or messaging platforms.
The controversy followed a viral notice claiming that OPay would suspend its Nigerian operations from September 1, 2026, and advising customers to withdraw their funds to avoid losing access to their accounts.
OPay had earlier dismissed the notice as false and urged customers to rely on its official communication channels for accurate information.
The fintech also asked an X user who shared information about the alleged shutdown to retract the post and apologise. The user subsequently deleted the post and apologised.
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