Nigerian Law Orders all employers to pay N70,000 minimum wage
All employers of labour are henceforth mandated to pay N70,000 lowest salary, according to the new Minimum Wage Act.
The law took effect yesterday following President Bola Ahmed Tinubu’s assent to the Bill passed last week by the National Assembly.
The President signed the Bill at a short ceremony before the start of the ninth Federal Executive Council (FEC) meeting this year, at the Council Chambers, State House, Abuja.
It was witnessed by the leadership of the National Assembly led by Senate President Godswill Akpabio.
The President thanked the National Assembly for speedily passing the bill, saying: “All I can say is thank you very much for the expeditious passage.”
Akpabio assured that the amendment to the 2024 Appropriation Act will be ready tomorrow.
He said: “The national minimum wage amendment is for the entire nation; for the Federal Government, states, local governments, private sector and individual employers.
“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.”
Last week, the President approved N70,000 as the new minimum wage for workers with a pledge to review the law every three years.
