Bola Ahmed Tinubu Signs New ₦70,000 Minimum Wage Bill Into Law

The president of Nigeria, Bola Ahmed Tinubu has officially signed the contemporary minimal wage invoice into law. This follows months of intensive discussions between the federal authorities, labour unions and the non-public sector. Earlier this month, the president well-liked a ₦70,000 minimal wage for Nigerian workers all over a gathering with the management of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).

The signing took scheme on the contemporary time all over the Federal Govt Council (FEC) assembly on the Dispute Residence in Abuja, following the Nationwide Meeting’s passage of the ₦70,000 minimal wage invoice.

The contemporary minimal wage replaces the earlier ₦30,000. In June, the labour unions went on strike, protesting a lack of settlement on a recent minimal wage and a recent hike in electricity tariffs. Days later, the strike turned into suspended to permit for uninterrupted negotiations with the authorities.

Before all the issues, labour unions demanded ₦494,000 because the minimal wage but later diminished their ask to ₦250,000 after huge negotiations. The federal authorities then proposed ₦62,000 sooner than selecting the lately well-liked ₦70,000.

Consistent with the president’s particular adviser on data and strategy, Bayo Onanuga, the contemporary minimal wage law entails a dedication to review the nationwide minimal wage every three years.