Tinubu Signs N70,000 Minimum Wage Bill into Law

President Bola Tinubu has signed the new N70,000 minimum wage bill into law, significantly increasing Nigeria's minimum wage from N30,000. The signing ceremony took place yesterday in the council chamber of the State House during a Federal Executive Council (FEC) meeting. The meeting was temporarily suspended to allow the leadership of the National Assembly, led by Senate President Godswill Akpabio, to witness the event.

The Senate and House of Representatives had passed the new minimum wage bill last Tuesday. The bill went through its first, second, and third readings in both legislative chambers within an hour, following President Tinubu's request. The new legislation mandates a minimum wage review every three years, ensuring regular adjustments in response to economic conditions.

The previous minimum wage of N30,000 was established under former President Muhammadu Buhari in 2019. The decision to enact the new minimum wage law followed a series of meetings between the federal government and organized labor, reflecting a collaborative approach to address the country's economic realities.