President Tinubu Signs New N70,000 Minimum Wage Bill into Law
Written by Jerry Alomatu on July 29, 2024
President Bola Ahmed Tinubu has officially enacted the new minimum wage bill, setting N70,000 as the minimum wage for workers. The signing ceremony occurred on Monday at 2 pm during the Federal Executive Council (FEC) meeting at the Council Chamber in the Presidential Villa, Abuja.
This decision comes after extensive negotiations between the Federal Government and organized labor. The tripartite committee had initially proposed two figures due to differing opinions: the government and private sector had suggested N62,000, while organized labor had pushed for N250,000. Ultimately, President Tinubu settled on N70,000, a compromise between the initial offers.
Minister of Information and National Orientation, Mohammed Idris, confirmed that the President’s decision to raise the minimum wage to N70,000 from the initial N62,000 offer was a result of these negotiations.
The signing was witnessed by key figures including the President of the Senate, Godswill Akpabio, and Deputy Senate President, Barau Jibrin.
This move represents a significant shift in Nigeria’s labor policy and will affect workers across various sectors.
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Author: Jerry Alomatu
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