The Senate, on Tuesday, July 23, 2024, passed the new minimum wage bill for a third reading.
The minimum wage bill passed first, second, and third readings on Tuesday.
This followed the presentation and adoption of a report on the bill by Senate Leader Opeyemi Bamidele.
The bill which was transmitted to the Senate by President Bola Tinubu on July 23 was given accelerated consideration, resulting in its first and second reading in line with Senate rule 80.
Bamidele in his lead debate on the general principles of the bill said the bill sought to amend the National Minimum Wage Act, 2019.
According to him, the bill seeks to increase the national minimum wage and reduce the time for periodic review from five years to three years.
FG, organised labour agree on N70,000 minimum wage
He said in recent times, a plethora of agitations and clamours have been recorded from Organised Labour and other segment of the society for an increase in the national minimum wage, given prevailing economic situation in Nigeria.
The lawmaker said in response to agitations and after series of negotiations between the federal government and labour, the current national minimum wage of N30,000 has been reviewed upward to the N70,000.
Bamidele stated: “It is part of the federal government’s short-term measure to mitigate the situation in the country, as efforts are being made to bring long-term solutions that would align with the yearnings and aspirations of Nigerians and bring succour.”
He also urged lawmakers to support the quick passage of the bill, adding that its passage was sacrosanct to the socioeconomic and political well-being of Nigeria.
It would be recalled that the Organised Labour embarked on strike over the minimum wage dispute on June 3.
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) had proposed N494,000 as the new national minimum wage, citing inflation and the prevailing economic hardship in the country.
The unions later reduced the amount to N250,000 after several meetings.
On July 11, labour leaders met with Tinubu at the Presidential Villa over the new minimum wage.
The labour leaders eventually accepted N70,000 as the new minimum wage for Nigerian workers.
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