President Bola Ahmed Tinubu today signed the National Minimum Wage Amendment Bill 2024 into law, marking a landmark moment for labor reform in Nigeria. The new legislation mandates a minimum monthly wage of N70,000, with a provision for review every three years to accommodate economic shifts and ensure fair compensation for workers.
The bill was signed during a Federal Executive Council meeting, reflecting the administration’s commitment to improving workers' living standards. The Head of Service commended the President's decision, asserting that the new law would bolster workers' confidence in their government and enhance their overall welfare.
The signing ceremony was attended by Senate President Godswill Akpabio and other key National Assembly leaders, emphasizing the collective effort involved in advancing the bill. President Tinubu expressed his appreciation to the National Assembly for their swift and effective action in passing the bill. He highlighted the importance of this legislation in addressing the financial needs of workers and reinforcing the administration's dedication to social justice and economic stability.
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