Buhari signs new minimum wage

A significant development in Nigeria!

On April 18, 2019, President Muhammadu Buhari signed the new National Minimum Wage Bill into law, increasing the minimum wage from N18,000 (approximately $49) to N30,000 (approximately $82) per month. This is a significant increase of 66.7% and is expected to benefit millions of Nigerian workers.

The new minimum wage was the result of a long-standing demand by labor unions and workers across the country. The bill was passed by the National Assembly in March 2019, and President Buhari's signing of the bill into law marks a major victory for workers and labor unions.

The new minimum wage is expected to have a positive impact on the economy, as it will increase the purchasing power of workers and stimulate economic growth. It will also help to reduce poverty and inequality, as it will provide a higher income for low-income workers who are most in need of support.

However, the implementation of the new minimum wage is expected to be a complex process, as it will require changes to the salaries of millions of workers across the country. The federal government has promised to work with state governments and employers to ensure a smooth transition to the new minimum wage.

Overall, the signing of the new minimum wage bill into law is a significant step forward for workers and labor unions in Nigeria, and is expected to have a positive impact on the economy and society as a whole.