The Senate has approved a bill to raise the National Minimum Wage from N30,000 to N70,000. This bill amends the National Minimum Wage Act of 2019 and also reduces the review interval for the wage from five years to three years.
The bill, submitted by President Bola Tinubu, went through the required readings in the Senate and was passed on Tuesday. Senate Leader, Senator Opeyemi Bamidele, explained that the bill seeks to address the growing calls from organized labor and other groups for a higher minimum wage due to the current economic conditions.
Bamidele stated, “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 has been reviewed upward to N70,000.”
