National Assembly Passes National Minimum Wage Bill

Nigerian Senate and the House of Representatives on Tuesday,  23rd July 2024, passed the 2024 National Minimum Wage Amendment Bill.

The Bill sent to the National on Tuesday, by President Tinubu, was given expeditious consideration by both chambers.

In separate letters to the Senate and the House of Representatives, the President asked for an expeditious consideration of the Bill for an Act to amend the National Minimum Wage Act, 2019 in order to raise the minimum wage from N30,000 to N70,000.

The President also requested that the duration of the periodic review of the national minimum wage be shortened from five years to three years, and other matters.

Prime Business Africa had reported last week Thursday, that the Federal Government and the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), agreed on N70,000 as the new minimum wage for Nigerian workers.

This followed months of agitation by labour unions for an increase in the national minimum wage as Nigerians grapple with high cost of living.

READ ALSO: Labour Gives Reasons For Accepting N70,000 Minimum Wage

The Federal Government had formed a Tripartite Committee, which comprised representatives of the government, labour unions and organised private sector to deliberate on minimum wage issues.

While the Federal Government proposed N62,000, Labour had insisted on N250,000.

However, both government and Labour finally agreed on N70,000. Labour leaders said they agreed because of other incentives attached and the promise to review minimum wage after three years in line with economic realities.