President Bola Tinubu on Monday signed the minimum wage bill into law, ending months of deliberations among government authorities, labour unions, and the private sector. It was signed six days after the National Assembly had passed the N70,000 per month minimum wage bill. Senate President, Senator Godswill Akpabio led the National Assembly delegation to the
President Bola Tinubu on Monday signed the minimum wage bill into law, ending months of deliberations among government authorities, labour unions, and the private sector. It was signed six days after the National Assembly had passed the N70,000 per month minimum wage bill.
Senate President, Senator Godswill Akpabio led the National Assembly delegation to the Presidential Villa where the passed Bill was signed into law.
The signing of the bill was done less than 72 hours before the commencement of the scheduled protest against President Tinubu’s policies which had occasioned monumental hardship on Nigerians and corporate persons
Six weeks after his Democracy Day promise that Nigerian workers would get a new minimum wage, President Bola Ahmed Tinubu on 23 July 2024 forwarded a national minimum wage bill to the National Assembly for deliberation and approval.
Penultimate week, the federal government and organised labour reached a consensus agreeing on ₦70,000 as the proposed new minimum wage for Nigerian workers.
The Minister of Information, Alhaji Mohammed Idris confirmed the new minimum wage after a meeting between President Tinubu, Comrade Chris Ajaero of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) Comrade Festus Osifo said: “The new national minimum wage expected to be submitted to the National Assembly is ₦70,000″, marking a significant breakthrough after prolonged negotiations.
Initially, the tripartite committee, responsible for setting the national minimum wage, also consulted participants in the labour market to provide advice to the government on issues of employment and labour, and to generally promote employment and industrial peace, had recommended ₦62,000, while labour unions advocated for ₦250,000, citing economic pressures exacerbated by inflation and the removal of petrol subsidies.
Despite these disparities, Labour eventually accepted the President’s offer of ₦70,000, highlighting a compromise that also includes more frequent reviews of the minimum wage, shifting from a five-year to a three-year review cycle.
President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, said Labour’s acceptance of ₦70,000 came with a rejection of a counter-proposal by President Tinubu to tie the wage increase to higher petrol prices. This decision underscores the delicate balance struck between economic realities and worker welfare.
Item 34 of the Second Schedule gives the National Assembly powers to “prescribe a national minimum wage for the Federation or any part thereof.” Such prescription of a new minimum wage by the National Assembly must be exercised within the purview of Section 4 of the 1999 Constitution of the Federal Republic of Nigeria as amended which provides that laws must be made for the “peace, order and good government of the Federation or any part thereof…”
The President has urged the National Assembly to pass the Executive Bill with dispatch. Once the two chambers of the National Assembly pass the bill, it would be sent to President Tinubu for his assent and soon as the President signs it, it will become law bringing the N70,000 into effect as the national minimum wage in Nigeria.
