The National Assembly has swiftly approved the National Minimum Wage Act 2019 (Amendment Bill), raising the national minimum wage from ₦30,000 to ₦70,000. The Senate and House of Representatives passed the bill on Tuesday, shortly after President Bola Tinubu submitted it for consideration.
In a unanimous decision during the Committee of the Whole, the Senate completed the third reading of the bill, which was then quickly followed by the House’s approval. President Tinubu is anticipated to sign the bill into law soon.
The President’s proposal included not only the wage increase but also a reduction in the review period for the minimum wage from five years to three years. This move came after discussions with organized labor, which had previously pushed for a minimum wage of ₦250,000, citing the unsustainability of the current wage amid rising inflation and living costs exacerbated by the removal of fuel subsidies.
After negotiations, labor leaders agreed to the ₦70,000 figure, partly due to the new provision for more frequent wage reviews. Joe Ajaero, President of the Nigeria Labour Congress (NLC), confirmed that labor accepted the ₦70,000 offer while rejecting a proposal to condition a higher minimum wage on increased fuel prices.
The bill’s transmission to the National Assembly followed President Tinubu‘s Democracy Day speech on June 12, 2024, where he announced plans for an executive bill on the national minimum wage. The rapid passage of the bill through both chambers reflects strong support from the government and a commitment to address the economic challenges facing workers in Nigeria.
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