Nigeria breaking news on minimum wage

Here are some recent breaking news updates on the minimum wage in Nigeria:

Latest Update:

• The Nigerian government has finally signed the new minimum wage bill into law, increasing the minimum wage from N18,000 to N30,000 per month. The signing of the bill was announced by the Minister of Labour and Employment, Chris Ngige, on April 18, 2020. (Source: Vanguard News)

Background:

• The minimum wage debate in Nigeria has been ongoing for several years, with various stakeholders calling for an increase in the minimum wage to reflect the rising cost of living in the country.
• In 2018, the Nigerian government set up a tripartite committee to negotiate a new minimum wage, which was expected to be implemented in 2019.
• However, the implementation of the new minimum wage was delayed due to disagreements between the government and labour unions over the amount of the increase.

Key Provisions:

• The new minimum wage bill increases the minimum wage from N18,000 to N30,000 per month.
• The bill also provides for a 25% increase in the minimum wage for workers in the federal capital territory, Abuja.
• The bill also provides for a 20% increase in the minimum wage for workers in other states.
• The bill also provides for a review of the minimum wage every five years to ensure that it keeps pace with inflation and other economic factors.

Reactions:

• The labour unions in Nigeria have welcomed the signing of the new minimum wage bill, describing it as a major victory for workers.
• The Nigerian Governors' Forum has also welcomed the signing of the bill, but has expressed concerns over the funding of the new minimum wage.
• The Nigerian Employers' Consultative Association (NECA) has also welcomed the signing of the bill, but has expressed concerns over the impact of the new minimum wage on businesses.

Next Steps:

• The implementation of the new minimum wage is expected to begin in May 2020, with the government expected to provide guidelines for the implementation of the new wage.
• The government is also expected to provide funding for the implementation of the new minimum wage, with the Nigerian Governors' Forum expected to provide input on the funding of the new wage.

I hope this information is helpful. Let me know if you have any further questions!