Labour unions in Nigeria will soon meet with state governments to ensure they follow the new 2024 National Minimum Wage Amendment Act.
Beyond Boders reports that this new law sets the minimum monthly wage at N70,000.
On Tuesday, the Senate quickly passed the new wage bill. President Bola Tinubu had sent the bill to both the Senate and the House of Representatives, requesting swift approval. The bill went through all its readings in less than an hour.
The new law updates the old National Minimum Wage Act, which set the minimum wage at N30,000 and allowed for reviews every five years. The new law shortens this review period to three years.
Senator Opeyemi Bamidele, the Majority Leader, said the N70,000 wage was agreed upon after discussions. He noted this move is part of the government’s efforts to ease the country’s economic situation.
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Chief Whip Tahir Monguno added that the wage review now aligns better with current economic conditions.
No senator opposed the bill, and it was approved unanimously. This new law is meant to address the demands from labour unions, which had previously asked for a much higher wage due to inflation and economic hardship.
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) had initially demanded N494,000 but later lowered their request to N250,000. After negotiations, they accepted the N70,000 wage.
Following the bill’s passage, the TUC warned states not to delay implementing the new wage.
TUC’s National Vice President, Tommy Etim, emphasized, “We are happy that the Senate was able to pass the National Minimum Wage Bill promptly. It’s now for the President to sign it into law and for the implementation to commence immediately.
“Moreover, the states should not delay in the implementation because of the socioeconomic challenges and the need to address hunger in the land.”
It was also learned that Kwara State Governor AbdulRaman AbdulRazaq has sent a revised budget bill to the state assembly, which may be related to the new wage law.
Ekiti State Governor Biodun Oyebanji and Osun State officials have also pledged to implement the new wage, despite the financial challenges it may pose.
