The Nigerian Senate has successfully passed seventy thousand Naira (70,000) National Minimum wage bill as requested by President Tinubu.
The Executive bill which was sent to the Senate by President Tinubu, was given accelerated consideration by the red Chamber as it passes first, second, and third reading on Tuesday.
The lawmakers also approved the national minimum wage review period from five to three years.
The Bill which was presented by the Senate Leader, Senator Opeyemi Bamidele, APC, Ekiti Central, was for an Act to Amend the National Minimum Wage Act, 2019 to increase the National Minimum Wage and reduce the time for periodic review of the national minimum wage from five years to three years and for related matters, 2024, 2024 (SB. 550).
Leading the debate, Senator Bamidele said, “Mr. President, Distinguished colleagues, I humbly rise to lead the debate on the general principles of the National Minimum Wage (Amendment) Bill, 2024 (SB. 550).
“The Bill, inter alia seeks to amend the National Minimum Wage Act, 2019, to increase the National Minimum Wage and reduce the time for periodic review of the National Minimum Wage from Five (5) years to Three (3) years, and for Related Matters. The Bill was read for the First Time today, 23rd July, 2024.
“This is part of the federal government’s short-term measure to mitigate the situation in the country,” Bamidele said.
After much debate, the Senate approved the clauses of the bill.
Recall that President Tinubu recently approved N70,000 minimum wage for Nigerian workers, after a protracted negotiation with the Organised Labour.
Tinubu also promised to review the national minimum wage law every three years, and to find ways to assist the private sector and the sub-nationals to pay the minimum wage.
More details later…
