Labour unions across the country have revealed their intention to initiate discussions with state governments to ensure compliance with the 2024 National Minimum Wage Amendment Act. This legislation, passed by both the Senate and House of Representatives, guarantees Nigerian workers a minimum monthly wage of N70,000.
President Bola Tinubu had forwarded the new wage bill for swift approval by the National Assembly, which resulted in a speedy legislative process culminating in the passage of the bill. The updated wage replaces the previous N30,000 minimum wage and reduces the wage review period to three years.
During the deliberations, Majority Leader of the Senate, Opeyemi Bamidele, emphasized that the agreed N70,000 wage was a short-term measure by the Federal Government to alleviate the economic challenges in the country. The necessity for aligning the minimum wage with current economic realities was echoed by Chief Whip of the Senate, Tahir Monguno.
The Senate’s unanimous approval of the bill signals the legal adoption of the N70,000 minimum wage, following prolonged negotiations and threats of a nationwide strike by the Nigeria Labour Congress and the Trade Union Congress.
While applauding the Senate’s prompt action, Trade Union Congress emphasized the urgency for states to quickly implement the new wage without delay due to the prevailing economic hardships. Similarly, Nigeria Labour Congress urged state governments to promptly enact the new minimum wage bill into law and ensure full compliance.
Various states, such as Kwara, Ekiti, and Osun, have begun taking steps towards implementing the new wage. Kwara State Governor forwarded a bill for a revised budget to accommodate the wage increase, while Ekiti State Governor reassured workers of his commitment to honoring the new minimum wage. Similarly, the Osun State government affirmed its readiness to comply with the new wage, acknowledging the financial strain it may pose.