NIGERIAN Senate Tuesday has passed a bill that seeks to amend the National Minimum Wage Act, 2019, increasing the national minimum wage from N30,000 to N70,000.
Also passed into law is a bill that seeks to reduce the time for periodic review of the National Minimum Wage from five (5) years to three (3) years, and for related matters.
A bill for an Act to Amend the National Minimum Wage Act, 2019 to increase the national minimum wage and reduce the time for periodic review of the national minimum wage from five years to three years and related matters, 2024, (SB. 550) was presented by the Senate Leader, Senator Opeyemi Bamidele, APC, Ekiti Central.
The Executive Bill forwarded to the Senate by President Bola Tinubu was first presented for the first reading, then scaled second reading and was read the third time and passed.
In his lead debate on the general principles of the bill, Senator Bamidele said, “Mr. President, Distinguished colleagues, I humbly rise to lead the debate on the general principles of the National Minimum Wage (Amendment) Bill, 2024 (SB. 550). The Bill, inter alia, seeks to amend the National Minimum Wage Act, 2019, to increase the National Minimum Wage and reduce the time for periodic review of the National Minimum Wage from five (5) years to three (3) years, and for related matters.
Recall that on Thursday, the President approved N70,000 as the new national minimum wage for workers following deliberations with the leaders of the Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC) at the presidential villa in Abuja.
Also, President Tinubu on Tuesday sent the proposed Minimum Wage Bill to the House of Representatives for consideration and passage into law.
President Tinubu’s letter, which was read on the floor of the House, outlines a new national minimum wage as well as the legal framework for implementing the agreed wage.
In the letter, President Tinubu urged lawmakers to expedite the passage of the minimum wage bill to ensure immediate implementation for the benefit of Nigerian workers.
Tinubu also sought an amendment to the Nigeria Police Act in accordance with Section 58 of the 1999 Constitution as amended.
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