President Tinubu has signed the new National Minimum Wage bill into law
President Bola Tinubu has signed the new national minimum wage (amendment) bill 2024 into law.
Tinubu, who presided over the Federal Executive Council (FEC) meeting at the council chamber in the state house, Abuja, today, signed the N70,000 the new minimum wage bill in the presence of cabinet members.
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The council suspended the meeting to allow the leadership of the National Assembly, led by Senate President Godswill Akpabio, to witness the signing of the bill.
OrderPaper recalls that on Tuesday July 23 2024, the Senate and House of Representatives separately passed the new minimum wage bill.
The bill, upon President Tinubu’s request speedily passed first, second and third readings at the upper and lower legislative chambers respectively.
The wage law increases the national minimum wage from N30,000 to N70,000 and a review of the minimum wage every three years.
Prior to the enactment of the new minimum wage act, the federal government and organised labour held a series of meetings. The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) had embarked on a strike over a review of the minimum wage. Upon which the federal government and the organized labour reached an agreement of ₦70,000 as the new national minimum wage.
