Latest news about minimum wage in nigeria

Here are some of the latest news and updates about the minimum wage in Nigeria:

Latest Development:

• On April 18, 2022, the Nigerian Senate passed the National Minimum Wage (Amendment) Bill, 2022, which seeks to increase the national minimum wage from N30,000 to N40,000 per month. The bill is now awaiting presidential assent.
• On April 20, 2022, the Nigerian Labour Congress (NLC) threatened to embark on a nationwide strike if the federal government fails to implement the new minimum wage within the next two weeks.

Background:

• In 2019, the Nigerian government increased the national minimum wage from N18,000 to N30,000 per month.
• However, the N30,000 minimum wage has been criticized as being inadequate, with many workers calling for an increase to reflect the current economic realities in the country.
• In 2020, the Tripartite Committee on Minimum Wage, comprising government representatives, labour unions, and private sector stakeholders, recommended an increase in the minimum wage to N40,000 per month.

Recent Updates:

• On March 24, 2022, the Minister of Labour and Employment, Chris Ngige, announced that the federal government had agreed to increase the minimum wage to N40,000 per month, but the implementation date was not specified.
• On April 12, 2022, the NLC called on the federal government to implement the new minimum wage without delay, warning that any further delay would lead to industrial action.
• On April 15, 2022, the Nigeria Employers' Consultative Association (NECA) expressed support for the proposed increase in the minimum wage, but called for a more gradual implementation to avoid disrupting businesses.

Reactions:

• The proposed increase in the minimum wage has been welcomed by many workers and labour unions, who argue that it is long overdue and necessary to improve the standard of living of low-income earners.
• However, some business owners and employers have expressed concerns about the potential impact of the increase on their businesses, particularly small and medium-sized enterprises.
• The proposed increase has also been criticized by some economists, who argue that it may lead to inflation and unemployment.

Next Steps:

• The bill is now awaiting presidential assent, and it is expected that the President will sign it into law soon.
• Once the bill is signed into law, the federal government will need to implement the new minimum wage, which may involve negotiations with state governments and private sector employers.
• The NLC has threatened to embark on a nationwide strike if the federal government fails to implement the new minimum wage within the next two weeks, so it remains to be seen how the situation will unfold.