July 29, (THEWILL) –
President Bola Tinubu has assented to the N70,000 National Minimum Wage for workers in the country.
The signing ceremony was performed on Monday at the Council Chamber of the Presidential Villa and witnessed by the leadership of the National Assembly and other government functionaries.
Confirming the development in a post on X, Special Adviser to the President on Media and Strategy, Bayo Onanuga, said, “President Tinubu signed the bill midway into the Federal Executive Council meeting. Head of Service said the new law will undoubtedly reassure the workers that the President cares about their welfare.
“Senate President Godswill Akpabio led National Assembly leaders to the signing ceremony.
“President Tinubu thanked the National Assembly for accelerating the passage of the law.”
THEWILL reports that the National Assembly had on Tuesday, passed the National Minimum Wage (Amendment) Bill, 2024 into law. The lawmakers also passed an amendment that reduced the time for periodic review of the National Minimum Wage from Five (5) years to Three (3) years and for Related Matters.
Speaking to State House Correspondents after the signing of the National Minimum Wage Bill into an Act, Senate President, Godswill Akpabio, said the new Act applies to all employers of labour in the country, including federal, state, and local governments, as well as private sector employers.
Akpabio commended President Tinubu for his commitment to Nigerian workers and noted that the National Assembly passed the bill in one day due to its importance.
He also disclosed that the amendment to the 2024 Appropriation Act, which will fund the new minimum wage, is expected to be passed on Wednesday, July 31.
Asked how soon the amendment to the budget would be ready, Akpabio said: “We have gone very far with it and I expect that by Wednesday it will be signed.”
“The national minimum wage amendment is for the whole nation; for the federal government, for the states, for the local governments, for the private sector and even for individual employers. So, I think this is a great day for the workers in the country. We are not only doubling the minimum wage, we have added something on top. Initially, it was N30,000, now it is N70,000.
“Like I said, this is minimum, this is not maximum. Any employer that has the capacity can pay as much as you want, but no Nigerian worker will offer services and be paid anything less than N70,000 from today. That is the implication of this Act.
“It applies all over the nation and we are excited that this is happening at a time like this through President Bola Ahmed Tinubu, a man who cares for the Nigerian workers. And you’ve seen what we are doing in the National Assembly. When it came, the entirety of the National Assembly moved and passed the bill in one day out of excitement. We felt that this was not something we could delay. So, I think the workers are happy,” he added.
On his part, Speaker of the House of Representatives, Tajudeen Abbas, said the signing of the new law was a demonstration of President Tinubu’s care for the wellbeing of Nigerians.
The Speaker, represented by the leader of the House of Representatives, Professor Julius Ihonvbere, said: “This is an action from the President to show that he cares about the Nigerian people.
“In addition to signing the North East Development Commission, the North West Development Commission, and the South East Development Commission, this has never happened in Nigeria.
“So, I think this movement from N30,000 to N70,000 and reducing the negotiation (from five to three) years is a clear demonstration of a commitment to redirect, refocus, and reposition Nigeria for greatness,” he said.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
