The Nigerian Senate has swiftly passed the amended National Minimum Wage Act into law, just minutes after receiving the bill from President Bola Tinubu.
The bill scaled first, second, and third readings in a record time, before being passed through a unanimous vote after a clause-by-clause consideration in the Committee of the Whole.
President Tinubu had transmitted the National Minimum Wage Bill to the National Assembly for consideration and passage, requesting expedited action on the bill. In a separate letter to the Senate and House of Representatives, the President sought an increase in the National Minimum Wage from N30,000 to N70,000, as well as a reduction in the time for periodic review of the national minimum wage from five years to three years.
The passage of the bill comes after the Nigerian government and the leadership of the Organised Labour agreed on N70,000 as the new minimum wage for Nigerian workers. This agreement was reached after a protracted disagreement that led to strike actions by the Nigerian Labour Congress (NLC).
The speedy passage of the bill by the Senate demonstrates the commitment of the National Assembly to improving the welfare of Nigerian workers. The amended National Minimum Wage Act will provide a significant increase in the minimum wage, benefiting millions of workers across the country.
With the passage of the bill, the National Minimum Wage has been increased to N70,000, and the time for periodic review has been reduced to three years. This move is expected to boost the economy and improve the standard of living for Nigerian workers.
