The National Assembly has passed the National Minimum Wage Act 2019 (Amendment Bill), paving the way for a significant increase in the minimum wage from ₦30,000 to ₦70,000. The bill was transmitted by President Bola Tinubu and passed by both the Senate and House of Representatives in a matter of minutes.
The passage of the bill marks a major milestone in the government’s efforts to address the economic concerns of Nigerian workers. The new minimum wage is expected to benefit millions of workers and help alleviate the effects of inflation and high cost of living.
The bill also reduces the time for periodic review of the national minimum wage from five years to three years, ensuring that workers’ wages will be adjusted more frequently to reflect changing economic conditions.
President Tinubu is expected to sign the bill into law, making the new minimum wage official. The move comes after weeks of negotiations between the government and organized labor, which had been advocating for a higher minimum wage.
