President Bola Ahmed Tinubu Monday signed into law the new National Minimum Wage Bill passed by the National Assembly.
The president assented to the bill during the Federal Executive Council (FEC) in Abuja.
The new National Minimum Wage Act pegs national minimum wage at N70,000.
The president commended the National Assembly for passing the bill expeditiously, saying “all I can say is thank you very much for the expeditious act.”
The Head of Civil Service of the Federation, Dr Folashade Yemi-Esan, said the new minimum wage would help douse tension in the country, particularly among workers.
Also speaking, the Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi, commended the National Assembly for the bill’s speedy passage.
He also appealed to the lawmakers to speed up the passage of the amendment to the 2024 Budget to fund the new minimum wage.
“It couldn’t have come at a better time than today, the President had indicated that you are likely to come and that he will put every assignment aside to welcome you and perform the signing ceremony.
Addressing State House correspondents, President of the Senate, Mr Godswill Akpabio assured that the amendment bill that seeks fund for the full implementation of the newly signed national minimum wage would be expeditiously passed on Wednesday, July 31, 2024.
He said the essence of the new minimum wage Act is to ensure that no Nigerian worker is paid below the approved N70,000.
“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,” he said.
