Senator Godswill Akpabio, the President of the Senate, declared that the new national minimum wage would be in effect countrywide.
These comments were made by Akpabio during the official signing of the Minimum Wage Act (Amendment) Bill into law by President Bola Tinubu at the State House in Abuja.
He emphasized that the increased minimum wage will be applicable to all levels of government – Federal, State, and Local – as well as the private sector and individual employers.
“This is a significant day for workers in the nation. Not only are we doubling the minimum wage, but we are also adding a bonus. Initially set at N30,000, it has now been increased to N70,000,” he stated.
He further added, “This is the minimum, not the maximum. Employers who are capable may pay even more if they choose. However, no Nigerian worker shall receive less than N70,000 starting today.
“This applies nationwide and we are thrilled that this is happening during the tenure of President Bola Ahmed Tinubu, a leader who genuinely cares for Nigerian workers,” he noted.
He commended the swift movement of the National Assembly in passing the bill within a day out of enthusiasm.
“We believed that there was no cause for delay. I believe the workers are content. I take this opportunity to urge those inciting trouble to cease. While protest is a fundamental right, instigating violence is not. The anonymous individuals behind such actions are cowardly,” Akpabio affirmed.
He clarified that the current challenges faced by Nigerians are not the fault of the Tinubu administration, which is just a year old.
“It is the cumulative effect of years of insecurity. Due to security concerns, many were unable to farm for nearly a decade, and the President has responded decisively.
“All food imports will now enter unrestricted; food is essential for Nigerians. Additionally, many items are being imported with reduced tariffs.
“I am pleased that the government is taking the necessary steps, and as leaders in the National Assembly, we are supporting our respective constituencies,” he expressed.
He urged the youth not to be led astray politically by any group, highlighting the financial consequences of property damage to Nigeria.
He mentioned that the bill to finance the increased minimum wage had made significant progress and anticipated it to be enacted into law by Wednesday.
Representing the Speaker of the House of Representatives, Tajudeen Abbas, the House leader, Prof. Julius Ihonvbere, remarked that the President’s enactment of the minimum wage bill demonstrated his concern for the Nigerian populace.
“The raise from N30,000 to N70,000 and reduction of negotiation periods from five to three years indicate a strong commitment to redirect, refocus, and elevate Nigeria,” he articulated.
On July 18, President Tinubu increased the Federal Government’s minimum wage offer from N62,000 to N70,000, pledging a review every three years instead of five.
The Federal Executive Council directed the Minister of Budget and Economic Planning to draft a bill amending the 2024 Budget.
A week later, Tinubu petitioned the Senate to amend the 2024 Appropriation Act and the 2023 Finance Act by expanding the budget by ₦6.2tn.
Tinubu’s correspondence was directed to the President of the Senate, Godswill Akpabio, and submitted during a plenary session. The President cited Section 58, sub-section two of the Nigerian Constitution in support of the move.
The Senate approved the ₦6.2tn amendment to the 2024 Appropriation Act, boosting the national budget for the year from ₦28.7tn to ₦35.055tn.