The National Assembly is set to pass an amendment to the 2024 Appropriation Act on Wednesday to fund the newly approved minimum wage increase, according to Senate President Godswill Akpabio.
Speaking to reporters at the State House in Abuja on Monday, following President Bola Tinubu’s signing of the National Minimum Wage Bill into law, Akpabio stated, “We have gone very far with it and I expect that by Wednesday it will be passed.”
The new law raises the minimum wage for Nigerian workers from ₦30,000 to ₦70,000.
The Explainer learned, President Tinubu paused a Federal Executive Council (FEC) meeting to receive National Assembly representatives, led by Akpabio, for the signing ceremony in the State House’s Council Chambers.
Akpabio emphasized that the new minimum wage applies to all employers nationwide, including federal, state, and local governments, as well as private sector entities.
He said, “This is minimum, this is not maximum. Any employer that has the capacity can pay as much as you want, but no Nigerian worker will offer services and be paid anything less than N70,000 from today.”
The Senate President praised Tinubu’s commitment to Nigerian workers, noting the National Assembly’s swift action in passing the bill.
“When it came, the entirety of the National Assembly moved and passed the bill in one day out of excitement. We felt that this was not something we could delay,” Akpabio added.
House of Representatives Speaker Tajudeen Abbas, represented by House Leader Professor Julius Ihonvbere, described the new law as a demonstration of President Tinubu’s concern for Nigerians’ wellbeing.
Ihonvbere stated, “This is an action from the President to show that he cares about the Nigerian people.”
The signing ceremony was also attended by Deputy Senate President Jubrin Barau and Senate Leader Opeyemi Bamidele, underscoring the significance of the new minimum wage legislation for workers across Nigeria.
