President Tinubu Poised to Sign New Minimum Wage Bill into Law
President Bola Tinubu is expected to sign the Minimum Wage Bill into law next week following its rapid passage by the National Assembly. Sources within the assembly confirmed that the bill was finalised on Wednesday and transmitted to the President on Thursday.
Senator Abdullahi Gumel, Senior Special Assistant on National Assembly Matters, confirmed the development, stating, “The bill will be transmitted today (Thursday).” The President is anticipated to expedite his assent.
The National Minimum Wage Act 2019 (Amendment Bill) saw swift approval in both legislative chambers. The bill, which proposed raising the minimum wage from ₦30,000 to ₦70,000, was introduced by the President and passed through second and third readings in the Senate and the House of Representatives within minutes. Both chambers approved the bill on Tuesday after a clause-by-clause review by the Committee of the Whole.
The legislative urgency followed President Tinubu’s executive submission of the bill, reflecting an agreement reached with labour leaders at a meeting in the Aso Presidential Villa. In addition to the wage increase, the bill proposes reducing the review period for the national minimum wage from five years to three years.
The new ₦70,000 wage replaces the ₦30,000 minimum wage that expired on April 18, 2024. Speaking on the need for the amendment, President Tinubu stated, “We are driving this economy together. Let us agree on the tenure of review and affirm three years. No one in the federal establishment should earn less than ₦70,000.”
The Tripartite Committee on the New National Minimum Wage, established in January, had initially submitted divergent figures—₦62,000 from the government and private sector, and ₦250,000 from organised labour. After further consultations, the President harmonised the figures to the agreed ₦70,000 and submitted the executive bill to the National Assembly.
This legislative move is a crucial step towards addressing wage concerns and ensuring fair compensation for Nigerian workers, underscoring the administration’s commitment to economic stability and social justice.
