Labour unions across the country have announced plans to hold talks with state governments to ensure compliance with the 2024 National Minimum Wage Amendment Act Bill. This bill, approved by the National Assembly on Tuesday, mandates a minimum monthly wage of N70,000 for Nigerian workers.
The Senate passed the 2024 National Minimum Wage Amendment Act Bill during its plenary session on Tuesday. Prior to this, President Bola Tinubu had submitted the new wage bill to both chambers of the National Assembly, seeking prompt legislative support for its passage.
The bill went through the first (President Tinubu’s request), second (debate on general principles), and third readings on Tuesday within an hour, unanimously approved by both the Senate and the House of Representatives.
Replacing the National Minimum Wage Act, No. 8, 2019, which set the minimum wage at N30,000 with a five-year negotiation period, the new bill now shortens the wage review interval to every three years as per the recent legislation.
Majority Leader of the Senate, Opeyemi Bamidele, emphasized that the agreed N70,000 wage was a collective decision reached after negotiations, serving as a short-term measure by the Federal Government to address the country’s economic challenges.
In a bid to align the minimum wage with economic realities, Chief Whip of the Senate, Tahir Monguno, highlighted the necessity of more frequent reviews, now mandated every three years as opposed to the previous five-year cycle.
With no opposition from Senators during the bill’s consideration by the Committee of the Whole, it was unanimously approved for the third reading and subsequent passage through a voice vote conducted by Senate President Godswill Akpabio.
The legislation grants legal backing to the N70,000 minimum wage recently endorsed by the President following a period of negotiations with labour unions, who had initially demanded a higher amount, citing economic hardships and inflation.
After series of meetings with the Presidency, the labour unions eventually settled for the N70,000 as the new minimum wage for workers, averting a nationwide strike that was initially threatened in response to delays in approving the new minimum wage.
Following the swift passage of the bill in the National Assembly, the Trade Union Congress cautioned states against delays in implementing the new wage due to the prevailing harsh economic conditions.
Expressing appreciation for the prompt passage of the National Minimum Wage Bill by the Senate, the National Vice President of TUC emphasized the urgency of implementing the new wage without delays, considering the economic challenges faced by workers.
Similarly, the Nigeria Labour Congress called on state governments to follow the Federal Government’s lead in swiftly enacting the new minimum wage bill, underscoring the importance of adhering to the provisions of the law.
States like Kwara, Ekiti, and Osun have already taken steps towards implementing the new wage, with governors assuring workers of their commitment to fulfilling the wage obligations in line with the law.
In a bid to accommodate the new wage, the Kwara State Governor forwarded a bill seeking a revised Supplementary Budget to the State House of Assembly. Ekiti State Governor also reassured workers of his administration’s dedication to meeting the new minimum wage requirements.
Despite acknowledging the financial strain posed by the new wage, the Osun State Commissioner for Information affirmed the state government’s readiness to abide by the law, reiterating the administration’s priority in ensuring the welfare of workers is upheld.
As various states gear up for the implementation of the N70,000 minimum wage, the concerted efforts undertaken by both the Federal and state governments reflect a pivotal step towards addressing the welfare concerns of Nigerian workers and fostering economic stability.