AGS NEWS – President Bola Tinubu has signed the new National Minimum Wage Act into law, prompting calls for swift implementation from organized labor.

The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) praised the move, urging the government to quickly address adjustments, payments, and arrears.

Tinubu signed the law at 2 pm at the Aso Rock Presidential Villa, witnessed by top government officials.

This follows the agreement on a new minimum wage of N70,000 after negotiations between the government, labor unions, and the private sector.

ALSO READ: Federal government approves salary increase for civil servants

Senate President Godswill Akpabio expressed excitement about the new wage, emphasizing that no Nigerian worker should earn less than N70,000.

He highlighted that this amendment applies to all levels of government and the private sector.

Akpabio also mentioned that President Tinubu will sign the 2024 budget amendment bill into law soon, which includes provisions to finance the new wage.

The Senate has approved an increase in the 2024 national budget from ₦28.7tn to ₦35.055tn.

The Minister of State for Labour, Nkeiruka Onyejeocha, assured that the government is committed to enforcing the new wage law, with extensive negotiations ensuring stakeholder involvement.

The government also plans to backdate the adjusted wages from May 2024.