President Bola Tinubu has signed the new National Minimum Wage Bill into law, raising the minimum wage to N70,000.
The signing took place at the State House during the Federal Executive Council meeting.
The meeting paused to welcome Senate President Godswill Akpabio and other National Assembly leaders to witness the event.
President Tinubu thanked the National Assembly for quickly passing the bill, saying , “Thank you very much for the expeditious act.”
Folashade Yemi-Esan, Head of Service of the Federation, mentioned that this new wage would help reduce tension among workers.
Moreso, Finance Minister Wale Edun promised that the new wage would be implemented promptly.
Beyond Boders recalls that Tinubu approved the new wage last week, and promised to review it every three years.
Senate President Akpabio stated that this wage applies to all workers in the federal, state, and local governments, as well as in the private sector.
“We are not only doubling the minimum wage, we have added something on top. Initially, it was N30,000, now it is N70,000.
“No Nigerian worker will offer services and be paid anything less than N70,000 from today.
“That is the implication of this act. It applies all over the nation. And we are excited that this is happening at a time like this through President Bola Tinubu; a man who cares for the Nigerian workers,” Akpabio said.
He also called for peaceful protest, warning against violence, and clarified that current hardships were due to long-term issues, not the current administration.
Julius Ihonvbere, speaking for House Speaker Tajudeen Abbas, praised the new wage as a sign of the president’s commitment to improving Nigeria.
“This movement from N30,000 to N70,000 and reducing the negotiation from five to three years is a clear demonstration of a commitment to redirect, refocus and reposition Nigeria for greatness,” he said.
President Tinubu increased the minimum wage from N62,000 to N70,000 on July 18, promising another review in three years.
