BREAKING: FG Makes U-turn, Reveals New Minimum Wage, When To Take Effect
The Federal government has assured workers that the new minimum wage will take effect from today, May 1, 2024, despite ongoing negotiations within the tripartite committee on national minimum wage.
Addressing Nigerian workers during the May Day celebration in Abuja, Minister of State Labour Nkeiruka Onyejeocha emphasised that although the conclusion of the negotiations is pending, efforts are underway to expedite the process and ensure the timely release of the new minimum wage.
Expressing regret over the delay in finalising the new national minimum wage, Onyejeocha reassured workers that comprehensive consultations are ongoing to facilitate the prompt formulation of the required document.
Both the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have consistently urged President Bola Tinubu’s administration to accelerate the upward adjustment of wage structures.
Recently, Organised Labour has advocated for a new minimum wage of N615,000, citing workers’ need to contend with the prevailing economic challenges and the high cost of living in Nigeria.
The labour unions said the current minimum wage of N30,000 can no longer cater for the wellbeing of an average Nigerian worker, lamenting that not all governors are paying the current wage award which expired in April, five years after the Minimum Wage Act of 2019 was signed by former President Muhammadu Buhari.
The Act is to be reviewed every five years to meet up with contemporary economic demands of workers.
