President Bola Tinubu has signed the new National Minimum Wage Amendment Bill 2024 into law. It is reviewable every three years.
President Tinubu signed the bill midway through the Federal Executive Council meeting Monday.
Senate President Godswill Akpabio led National Assembly leaders to the signing ceremony.
LEADERSHIP recalls that the federal government and organised labour had recently agreed on ₦70,000 as the new minimum wage.
Consequently, the president sent the bill to the National Assembly, which was passed swiftly.
The Head of Service said the new law will undoubtedly reassure the workers that the president cares about their welfare.
President Tinubu thanked the National Assembly for accelerating the passage of the law.
Meanwhile, the federal government has reassured the public of compliance with the new minimum wage, emphasizing the extensive negotiations and consensus-building efforts undertaken from February to July.
Minister of state for labour, Nkeiruka Onyejeocha, gave the assurance while speaking with State House correspondents after Monday’s Federal Executive Council meeting.
“What should a Labour minister do when people don’t pay? The most important thing is that this minimum wage has been passed and that all Nigerians were involved – all the stakeholders, the governors, the representatives of the local government, which is ARGON, and, of course, the organised private sector and organised labour and the government itself.
“Conversations were held and it passed through the process, and it has become law,” Onyejeocha continued.
“I believe that we are responsible Nigerians and we want to promise Nigerians that we’re going to do that. When you have a strong leader, who has the goodwill of the people he governs and there is cooperation, I believe that everybody will comply with what is agreed upon.”
Onyejeocha also confirmed that the Federal Government will honour its commitment to backdate the payment of the adjusted wages to May 2024.
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