The Senate passed the National Minimum Wage Act 2019 (Amendment Bill) on Tuesday.
The bill, which had its second and third readings just minutes after being sent by President Bola Tinubu, was approved by the Senate in a speedy process.
In a unanimous vote after reviewing the bill, the Senate passed it in its third reading.
Earlier on Tuesday, President Tinubu sent the bill to the National Assembly, asking for it to be considered and passed urgently.
The President requested that the National Minimum Wage be increased from ₦30,000 to ₦70,000. He also asked for the review period of the national minimum wage to be reduced from five years to three years.
Last Thursday, President Tinubu and the leaders of the Organised Labour reached an agreement on ₦70,000 as the new minimum wage for Nigerian workers.
Joe Ajaero, President of the Nigeria Labour Congress, explained, “Labour accepted the ₦70,000 offer and rejected a proposal to pay ₦250,000 minimum wage if it meant increasing petrol prices.” He added that Labour agreed to the ₦70,000 amount because it would now be reviewed every three years instead of five.
This agreement followed months of failed negotiations between labour unions and a tripartite committee set up by the President in January. The committee had proposed ₦62,000, while Labour had initially insisted on ₦250,000 due to high inflation and the increased cost of living after the removal of the petrol subsidy.
The bill’s swift passage came about six weeks after President Tinubu announced on June 12, 2024, that a new executive bill on the national minimum wage would be sent to the National Assembly.
