Weeks after announcing ₦70,000 as the new minimum wage for Nigerian workers, President Bola Tinubu has finally signed the National Minimum Wage Amendment Bill 2024 into law.
The President and his cabinet had turned up for the Federal Executive Council (FEC) meeting on Monday, July 29, 2024.
It was midway into the FEC meeting, that Tinubu signed the bill.
With the signing of the bill, the new national minimum wage has now become law.
Now, Nigerian workers will be entitled to the payment of a minimum monthly wage of ₦70,000.
Confirming the development was the Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga.
According to Onanuga, the law makes provision for the ₦70,000 to be renewed every three years.
Senate President Godswill Akpabio led the leadership of the National Assembly to the signing ceremony.
Minimum Wage Bill
The President conveyed his appreciation to the legislative leaders for the quick passage of the bill, which has now been signed into law.
“President Bola Ahmed Tinubu today signed the new National Minimum Wage Amendment bill 2024 into law.
The law which prescribes a minimum of 70,000 naira as monthly salary, is reviewable every three years.”
“President Tinubu signed the bill midway into the Federal Executive Council meeting.
Head of Service said the new law will undoubtedly reassure the workers that the President cares about their welfare.”
Arrears
“Senate President Godswill Akpabio led National Assembly leaders to the signing ceremony.
“President Tinubu thanked the National Assembly for accelerating the passage of the law,” Onanuga wrote via his account on the X platform.
Also Read: When Will President Tinubu Sign ₦70,000 Minimum Wage Bill
Meanwhile, it would be recalled that the presidency has confirmed that the new national minimum wage is expected to take effect from April 2024.
The Special Assistant to President Bola Tinubu on Social Media, Dada Olusegun, who confirmed this in a post via X, added that workers will be paid arrears of their increase from this period.
