The Federal Government has officially confirmed that the new minimum wage of N70,000 will be implemented starting May 1, 2024.
This announcement was made by the Minister of State for Labour, Nkeiruka Onyejeocha, during the May Day celebration in Abuja.
After a period of negotiations and deadlock between the Federal Government and Organised Labour, an agreement has been reached. President Bola Tinubu endorsed the new wage on Thursday evening, promising regular reviews of the minimum wage law every three years. The government will soon settle the arrears for May and June.
An executive bill proposing the new national minimum wage will be presented to the National Assembly on Tuesday, July 23. It is expected to be swiftly considered and passed into law.
However, tensions have risen as the Nigeria Labour Congress (NLC) has threatened to initiate a month-long nationwide shutdown if the National Assembly proceeds with deregulating the national minimum wage. Joe Ajaero, President of the NLC, expressed concern that such a move would allow state governors to set their own minimum wages, potentially abolishing the national standard.
“A law that does not benefit Nigerian workers would face strong opposition,” Ajaero warned, emphasizing the potential for widespread disruption if the proposed changes are enacted.
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