Details of the new nigeria minimum wage 2019

The new minimum wage in Nigeria was signed into law by President Muhammadu Buhari on April 18, 2019. The new minimum wage is N30,000 (Thirty Thousand Naira) per month, which is an increase from the previous minimum wage of N18,000 (Eighteen Thousand Naira) per month.

Here are some key details of the new minimum wage:

  1. Amount: The new minimum wage is N30,000 (Thirty Thousand Naira) per month.
  2. Effective Date: The new minimum wage took effect from April 18, 2019.
  3. Applicability: The new minimum wage applies to all federal government employees, including those in the public sector, as well as private sector employees who are covered by the National Minimum Wage Act.
  4. Coverage: The new minimum wage covers all employees in the public and private sectors, including:
    • Federal government employees
    • State government employees
    • Local government employees
    • Private sector employees who are covered by the National Minimum Wage Act
  5. Exemptions: The new minimum wage does not apply to:
    • Employees who are already earning more than the new minimum wage
    • Employees who are covered by a collective bargaining agreement that provides for a higher minimum wage
    • Employees who are in the informal sector
  6. Implementation: The new minimum wage is to be implemented by all employers of labor, including federal, state, and local governments, as well as private sector employers.
  7. Consequential Adjustments: The new minimum wage also provides for consequential adjustments to other benefits, including:
    • Pension contributions
    • National Housing Fund contributions
    • Group Life Insurance
    • Other benefits
  8. Review: The new minimum wage is to be reviewed every five years to ensure that it keeps pace with inflation and other economic factors.

It's worth noting that the implementation of the new minimum wage has been slow in some states, and some employers have been dragging their feet in implementing the new wage. However, the federal government has been working to ensure that all employers comply with the new minimum wage.