President Bola Tinubu has signed the minimum wage bill into law, ending months of deliberations between government authorities, labour unions, and the private sector. The bill was swiftly passed by the National Assembly, mandating a new N70,000 minimum wage with a three-year review period.
The National Assembly approved President Tinubu's proposed minimum wage bill, which had been introduced in both the Senate and House of Representatives. The bill passed through all three readings with unanimous support via voice votes. This legislation provides legal backing for the N70,000 minimum wage agreed upon by the government, organized labor, and the private sector, and reduces the review period for minimum wage adjustments from five to three years.
Key legislative figures, including Senate Majority Leader Opeyemi Bamidele and House Majority Leader Julius Ihonvbere, pushed for the bill's swift passage by moving to suspend standard rules for immediate consideration. Senate Minority Whip Hon. Ali Isa JC and Senate Majority Whip Mohammed Tahir Monguno, among others, endorsed the bill, leading to its unanimous passage in both chambers.
The newly signed bill replaces the National Minimum Wage Act of 2019, which had set the previous minimum wage at N30,000 with a five-year review period. This legislative move marks a significant step forward in improving workers' welfare in Nigeria, aligning with President Tinubu's promises to labor leaders.
