President Bola Tinubu is expected to sign the newly passed Minimum Wage Bill into law next week.
According to The PUNCH, this follows the swift passage of the bill by both chambers of the National Assembly, which finalized the bill on Wednesday and transmitted it to the President on Thursday.
Senior Special Assistant on National Assembly Matters,Senator Abdullahi Gumel confirmed the bill’s transmission on Thursday, highlighting the President’s likely prompt assent.
The National Minimum Wage Act 2019 (Amendment Bill) underwent expedited readings and was unanimously approved by both the Senate and the House of Representatives during Tuesday’s plenary sessions.
Following a thorough clause-by-clause consideration, the bill passed its third reading in the Senate and was quickly mirrored by the House of Representatives.
The executive bill, initially transmitted by President Tinubu, proposes an increase in the national minimum wage from ₦30,000 to ₦70,000 and reduces the period for periodic review from five years to three.
This amendment follows an agreement between President Tinubu and labor leaders, aiming to implement a new minimum wage for Nigerian workers. The previous minimum wage of ₦30,000 had expired on April 18, 2024.
President Tinubu, emphasizing the need for a timely review of the wage benchmark, stated, “No one in the federal establishment should earn less than ₦70,000. We are setting the benchmark at ₦70,000.”
The Tripartite Committee on the New National Minimum Wage had initially submitted two figures due to stakeholder disagreements: ₦62,000 proposed by the government team and the organized private sector, and ₦250,000 demanded by Organized Labour.
After further dialogue and consultation, President Tinubu harmonized the figures before sending the executive bill to the National Assembly.
With the legislative approval now in place, President Tinubu’s imminent signature will officially enact the new minimum wage, reflecting the administration’s commitment to improving workers’ welfare.
