![National Assembly Approves ₦70,000 Minimum Wage for All Workers](https://luvmp.com/wp-content/uploads/2024/07/National-Assembly.png)
The National Assembly has passed a landmark bill raising the minimum wage in Nigeria from ₦30,000 to ₦70,000, applicable to all workers, including domestic staff such as drivers, housemaids, and gatemen. The bill also shortens the wage review period from five years to three years.
Both the Senate and the House of Representatives expedited the passage of the bill, which successfully cleared all legislative readings in a single session. President Bola Tinubu had urgently requested the National Assembly to consider the bill, emphasizing its importance in alleviating the financial burdens faced by Nigerian workers.
Senate President Godswill Akpabio stated, “The new minimum wage of ₦70,000 applies to all employees, not just those in government positions. This includes everyone from tailors to domestic workers. Employers must comply with this new standard.”
The bill’s passage follows extensive negotiations between the federal government and organized labor. Initially, labor unions proposed a minimum wage of ₦250,000 but eventually agreed to ₦70,000 after discussions with the President. This agreement reflects a compromise aimed at providing immediate relief to workers while maintaining economic stability.
The legislation has been hailed as a significant achievement for the Nigerian Labour Congress and all Nigerian workers. The reduction of the wage review period to three years ensures more frequent adjustments to the minimum wage, keeping it more in line with economic conditions.
In other legislative actions, the Senate approved the appointments of Dr. Olatunji Bello as CEO/Executive Vice-Chairman of the Federal Competition and Consumer Protection Commission (FCCPC) and Dr. Jobson Eseodion Ewalefoh as Director-General of the Infrastructure Concession Regulatory Commission (ICRC).
President Tinubu is expected to sign the new minimum wage bill into law shortly, marking a crucial step in improving the living standards of Nigerian workers and promoting economic fairness across all employment sectors.
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