Lagos State Governor, Babajide Sanwo-Olu, has declared an increase in the minimum wage to N85,000, asserting this move reflects the state’s economic capability and commitment to enhancing workers’ welfare.
During a recent televised interview, Sanwo-Olu highlighted the adjustment as a step towards providing a livable wage, distancing the decision from competitive pressures. He expressed optimism about potentially raising the minimum wage to N100,000 by January 2025, emphasizing ongoing efforts to manage the state’s finances responsibly.
Governor Sanwo-Olu underlined the government’s focus on tightening fiscal expenditures to support further wage improvements. This wage hike comes as other states like Oyo and Ogun also navigate adjustments to meet the Federal Government’s N70,000 minimum wage directive. In Ogun State, Governor Dapo Abiodun has set the new minimum wage at N77,000 following discussions with labor representatives, effective from October 2024.
