As previously announced by the Federal Government, the new minimum wage ought to take effect on May 1, 2024.
Recall that the minister of State for Labour, Nkeiruka Onyejeocha, made this announcement while addressing Nigerian workers at the May Day celebration in Abuja.
This announcement came during the period of negotiations and a standoff between the Federal Government and Organised Labour.
The negotiations have now ended, with an agreement reached between the Federal Government and Organised Labour.
On Thursday evening, President Bola Tinubu approved a new minimum wage of N70,000 for Nigerian workers and promised to review the national minimum wage law every three years.
As a result of this, the government is expected to settle the arrears for May and June.
On Tuesday, July 23, the National Assembly will receive an executive bill proposing a new national minimum wage, which is expected to be considered and passed into law.
However, the Nigeria Labour Congress, threatened to shut down the country for a month if the National Assembly decides to deregulate the national minimum wage.
Joe Ajaero, NLC president said that a Joint Committee of the Senate, House of Representatives, and the Judiciary is considering removing Section 34 from the Exclusive Legislative List to the Concurrent List.
This change would allow state governors to set their own minimum wages, effectively abolishing the national minimum wage.
Ajaero warned that if such a law is passed, it would result in significant disruption: “The very moment the House of Representatives and the Senate come up with such a law that will not benefit Nigerian workers, they will be their drivers and gatemen, and there will be no movement for one month.”
