Latest news on nigerian minimum wage

Here are the latest updates on the Nigerian minimum wage:

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 was passed after a clause-by-clause consideration of the report of the Senate Committee on Labour (Employment and Productivity).

Background:

In 2019, the Nigerian government increased the national minimum wage from N18,000 to N30,000 per month. However, since then, there have been calls for a further increase to reflect the rising cost of living in the country.

Key Provisions of the Bill:

The National Minimum Wage (Amendment) Bill, 2022, proposes the following key changes:

  1. Increase the national minimum wage from N30,000 to N40,000 per month.
  2. Increase the minimum wage for workers in the federal capital territory (FCT) from N30,000 to N40,000 per month.
  3. Increase the minimum wage for workers in the states from N30,000 to N40,000 per month.
  4. Increase the minimum wage for workers in the local governments from N30,000 to N40,000 per month.
  5. Provide for the establishment of a national minimum wage committee to review and adjust the national minimum wage periodically.

Next Steps:

The bill will now be sent to the House of Representatives for further consideration and passage. Once passed by the House of Representatives, the bill will be sent to President Muhammadu Buhari for assent.

Reactions:

The passage of the bill has been welcomed by labor unions and civil society organizations, who have been advocating for a higher minimum wage to improve the living standards of workers in Nigeria. However, some employers have expressed concerns about the potential impact of the increase on their businesses.

Timeline:

The timeline for the implementation of the new minimum wage is not yet clear. However, it is expected that the new minimum wage will take effect once the bill is signed into law by President Buhari.

I hope this information is helpful!