Senate approves #70,000 as minimum wage

The Nigerian Senate has approved N70,000 as minimum wage for workers in Nigeria.

The national minimum wage bill will become effective after President Bola Tinubu, assents to it.

The bill, which scaled first, second and third readings, just minutes after it was transmitted by President Bola Tinubu, was instantly passed by the upper chamber.

The legislation seeks to raise the country’s minimum wage from N30,000 to N70,000.

While leading a debate on the bill, Opeyemi Bamidele, Senate leader, said N70,000 was agreed upon by all the parties after negotiations.

On his part, Tahir Monguno, chief whip, said there is a need to review the minimum wage in line with economic realities.

In a unanimous vote after a clause consideration in the Committee of the Whole, the National Minimum Wage Bill scaled third reading and was passed.

The period for reviewing the minimum wage has been reduced from five years to three years.