Minimum Wage: National Assembly Okays N70,000 Monthly Pay For Nigerian Workers, To Be Reviewed In Three Years - EDU-BIZNEWS

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Tuesday, July 23, 2024

Minimum Wage: National Assembly Okays N70,000 Monthly Pay For Nigerian Workers, To Be Reviewed In Three Years


 



National Assembly including the Senate and House of Representatives on Tuesday gave the National Minimum Wage Act 2019 (Amendment Bill) accelerated passage 

President Bola Ahmed Tinubu after resolving with the organized labour last week Thursday to raise the minimum wage to N70,000 for Nigerian workers,  had transmitted the bill , which scaled second and third readings at both legislative chambers in the National Assembly in Abuja , just minutes after recieving it 

The Senators unanimously voted in favour of the bill after a clause by clause consideration in the Committee of the Whole, the National Minimum Wage Bill scaled third reading and was passed at the Senate.

The House just like the Senate, also passed the bill immediately and now awaiting the assent of President Tinubu to become law for immediate implementation by the Federal Government, State Governments and Organized Private Sector as the new military wage for workers in the country 

The President separately wrote the Senate and the House of Representatives requesting quick consideration of a bill for an Act to amend the National Minimum Wage Act, 2019 to increase the National Minimum Wage from ₦30,000  to ₦70,000.

President Tinubu also asked the lawmakers to reduce the time for periodic review of the national minimum wage from five years to three years and related matters.

The final agreement of N70,000 was reached after more than six months of several meetings of the tripartite committee comprising of representatives of government, organized private sector (OPC) and organized labour constituted by President Tinubu in January, 2024

But members of the tripartite committee failed to agree on what should be minimum wage for workers in the country, while the Federal Government and OPS agreed to raise the minimum to N62,000 from the current N30,000, the governors proposed N57,000 and organized labour insisted on N250,000 which it described as a living wage for considering the economic reality in the country 

The presidency however promised to give the needed support to the governors and OPS to enable them to implement the new minimum wage 

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