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New minimum wage to take effect May 1, 2024 – FG

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The Federal Government has announced that the new minimum wage will take effect from May 1, 2024, despite ongoing negotiations by the Tripartite Committee On National Minimum Wage.

Speaking at the May Day celebration in Abuja, the Minister of State for Labour, Hon. Nkeiruka Onyejeocha, assured Nigerian workers that they would not suffer any losses due to the delayed conclusion of negotiations.

“We understand the importance of the new minimum wage to workers across the country. Therefore, I am pleased to announce that the new minimum wage will be implemented from May 1, 2024,” Onyejeocha stated.

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The announcement comes after the Federal Government approved salary increases ranging from 25% to 35% for civil servants across six Consolidated Salary Structures.

These structures include CONPSS, CONRAISS, CONPOSS, CONPASS, CONICCS, and CONAFSS, with the increases retroactively effective from January 1, 2024.

While acknowledging the delay in finalizing the new national minimum wage, Onyejeocha assured that extensive consultations were underway to expedite the process and ensure its prompt implementation.

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The Nigeria Labour Congress and the Trade Union Congress had previously urged President Bola Tinubu’s administration to expedite the upward review of wage awards.

Notably, the Organised Labour had demanded a new minimum wage of N615,000 to address the economic challenges and high cost of living in Nigeria.

Expressing concerns over the current minimum wage’s inadequacy, the labour unions emphasized the importance of timely wage reviews to meet contemporary economic realities.

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They noted that the Minimum Wage Act of 2019, signed by former President Muhammadu Buhari, stipulates a review every five years, which was due in April.

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