President Bola Tinubu has officially signed the National Minimum Wage Bill into law, raising the minimum wage from ₦30,000 to ₦70,000.
The signing ceremony took place on Monday at the State House in Abuja, with the leadership of the National Assembly and other key government officials in attendance.
The bill, which has been under negotiation for months between government authorities, labour unions, and the private sector, received final approval from the National Assembly prior to the President’s assent.
The ceremony was marked by the presence of a delegation led by President of the Senate Godswill Akpabio, along with several members of the House of Representatives, who witnessed the historic moment.
Special Adviser to the President on Senate Matters, Basheer Lado, described the signing as a fulfillment of a key campaign promise.
“The signing of the minimum wage bill into law by His Excellency, President Bola Ahmed Tinubu is both a promise kept and a demonstration of his people-centric governance model,” Lado stated.
“Tinubu promised to pay a living wage to Nigerian workers during his electioneering campaigns, and he has delivered on that promise.”
The President’s approval of the new wage came after months of intensive negotiations involving government officials, labour unions, and representatives from the private sector.
The new law not only increases the wage but also introduces a commitment to review the minimum wage every three years, ensuring that it remains aligned with current economic realities.
The signing ceremony was a culmination of a series of discussions and deliberations that had been ongoing since the National Assembly passed the Minimum Wage Act, 2019.
This legislation aimed to address the growing concerns about the adequacy of the previous wage rate, which had been set at ₦30,000.
The bill’s swift passage through the Senate—achieving first, second, and third readings within a single hour—demonstrated a strong consensus on the urgency of the issue..
In addition to increasing the minimum wage, President Tinubu has pledged to support the private sector and sub-national entities in implementing the new wage structure.
This includes exploring measures to mitigate any financial strain on businesses and state governments that might arise from the wage adjustment.
The commitment to a triennial review of the wage law reflects a proactive approach to maintaining the wage’s relevance and ensuring that it adapts to future economic conditions.
The move for a new minimum wage also received the endorsement of the Nigeria Governors’ Forum (NGF), which met in Abuja to discuss the broader implications of the wage increase.
The governors, led by Chairman AbdulRahman AbdulRazaq, reiterated their support for improved wages and committed to engaging with stakeholders to achieve a consensus on the implementation process.
The NGF’s communique highlighted the governors’ dedication to negotiating wage improvements and supporting the Nigeria for Women Project Scale-Up, aimed at promoting gender equality and social development.
However, the forum had previously rejected a ₦60,000 minimum wage proposal, arguing that it was unrealistic and unsustainable.
This legislative development follows the conclusion of the Tripartite Committee on National Minimum Wage, which was established by President Tinubu to review and recommend appropriate adjustments to the wage structure.
The committee’s comprehensive report, submitted in June 2024, played a critical role in shaping the new wage policy.
