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SENATE PASSESS NEW MINIMUM WAGE BILL OF ₦70,000

Abuja, Nigeria - The Godswill Akpabio-led Senate has passed a bill amending the National Minimum Wage Act, 2019, to increase the national minimum wage from N30,000 to N70,000.

Also passed by the Senate on Tuesday is a bill that seeks to reduce the time for the periodic review of the national minimum wage from five years to three years.

The bill, titled "A Bill for an Act to Amend the National Minimum Wage Act, 2019 to increase the National Minimum Wage and reduce the time for periodic review of the national minimum wage from five years to three years and for related matters, 2024" (SB. 550), was presented by Senate Leader Senator Opeyemi Bamidele (APC, Ekiti Central).

The executive bill, forwarded to the Senate by President Bola Tinubu, was first presented for the first reading, then scaled the second reading, and was read the third time and passed.

In his lead debate on the general principles of the bill, Senator Bamidele said, “Mr. President, distinguished colleagues, I humbly rise to lead the debate on the general principles of the National Minimum Wage (Amendment) Bill, 2024 (SB. 550). The bill seeks to amend the National Minimum Wage Act, 2019, to increase the national minimum wage and reduce the time for periodic review of the national minimum wage from five years to three years, and for related matters.

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