New minimum wage for nigerian workers
As of 2022, the new minimum wage for Nigerian workers is N30,000 (Thirty Thousand Naira) per month. This was announced by the Federal Government of Nigeria in April 2021, following a long-standing demand by workers and labor unions for a review of the minimum wage.
The new minimum wage is applicable to all federal government employees, as well as workers in the private sector who earn below the threshold. However, it's worth noting that some states in Nigeria have implemented their own minimum wage rates, which may be higher than the federal minimum wage.
Here are some key details about the new minimum wage:
- Effective date: The new minimum wage took effect from April 18, 2021.
- Coverage: The new minimum wage applies to all federal government employees, including those in the public sector, as well as workers in the private sector who earn below the threshold.
- Threshold: The new minimum wage is N30,000 per month, which is an increase from the previous minimum wage of N18,000 per month.
- Implementation: The new minimum wage is expected to be implemented by all employers, including federal government agencies, state governments, and private sector companies.
- Review: The new minimum wage is subject to review every five years to ensure that it keeps pace with inflation and other economic factors.
It's worth noting that the new minimum wage is a significant increase from the previous minimum wage, and it's expected to have a positive impact on the lives of millions of Nigerian workers. However, some experts have raised concerns about the sustainability of the new minimum wage, given the country's economic challenges and the need for further reforms to boost productivity and economic growth.