Business day nigeria new minimum wage chart
As of 2021, the new minimum wage in Nigeria is N30,000 (Thirty Thousand Naira) per month. Here is a chart outlining the new minimum wage structure:
New Minimum Wage Structure in Nigeria (2021)
| Grade Level | Monthly Salary (N) |
|---|---|
| 1 | 30,000 |
| 2 | 35,000 |
| 3 | 40,000 |
| 4 | 45,000 |
| 5 | 50,000 |
| 6 | 55,000 |
| 7 | 60,000 |
| 8 | 65,000 |
| 9 | 70,000 |
| 10 | 75,000 |
| 11 | 80,000 |
| 12 | 85,000 |
| 13 | 90,000 |
| 14 | 95,000 |
| 15 | 100,000 |
Note: The above chart is based on the new minimum wage structure approved by the Nigerian government in 2021. The figures are subject to change and may be adjusted periodically.
Key Highlights of the New Minimum Wage Structure:
- The new minimum wage is N30,000 per month, which is a significant increase from the previous minimum wage of N18,000 per month.
- The new minimum wage structure is applicable to all federal government employees, including those in the public sector, as well as employees in the private sector who are covered by the National Minimum Wage Act.
- The new minimum wage structure is designed to ensure that all employees in Nigeria earn a living wage that is sufficient to meet their basic needs and improve their standard of living.
- The new minimum wage structure is expected to have a positive impact on the economy, as it will increase consumer spending and boost economic growth.
I hope this information is helpful!