The Senate has approved the bill that amends the National Minimum Wage Act of 2019 to raise the National Minimum Wage from N30,000 to N70,000.
The Senate passed a bill on Tuesday that includes a provision to reduce the interval for reviewing the National Minimum Wage from every five (5) years to every three (3) years, among other matters.
The Executive bill forwarded to the Senate by President Bola Tinubu was initially presented for the first reading, then scaled second reading and was read the third time and passed.
In his lead debate on the bill's general principles, Senate Leader, Senator Opeyemi Bamidele said the National Minimum Wage (Amendment) Bill, 2024 Matters was read for the First Time on 23rd July 2024.''
“You will recall, Mr. President, my dear Colleagues, that in recent times, a plethora of agitations and clamours have been recorded from Organised Labour and another segment of our society, for an increase in the National Minimum Wage given the prevailing economic situation in the country.''
“In response to the agitations and after a series of negotiations between the Federal Government and the Organised Labour, the current National Minimum Wage of N30,000 Naira only has been reviewed upward to the sum of N70,000 Naira only.” he said.
Details later…
