New Minimum Wage: Bill to Reach National Assembly On Tuesday

President Bola Tinubu has reached an agreement with labour leaders to implement a new national minimum wage of ₦70,000, replacing the previous ₦30,000 that expired on April 18, 2024.

The agreement was forged during a meeting held on Thursday at the Aso Presidential Villa in Abuja, attended by Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC) presidents, Joe Ajaero and Festus Osifo respectively.

Following the discussions aimed at addressing rising living costs and improving worker remuneration, Special Adviser Bayo Onanuga confirmed to Punch that an executive bill will be presented to the National Assembly by next Tuesday.

This legislative step is crucial to legally establish and enable the nationwide implementation of the agreed-upon minimum wage.

President Tinubu, while assenting to the new wage, pledged to review it every three years, underscoring ongoing efforts to sustain fair compensation for Nigerian workers.