Nigeria latest news on minimum wage

Here are the latest news updates on 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 was passed after a clause-by-clause consideration of the report of the Senate Committee on Labour (Employment, Labour and Productivity).

Background:

In October 2018, 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 review of the minimum wage to reflect the current economic realities in the country.

Key Provisions of the Bill:

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

  1. Increase in the national minimum wage from N30,000 to N40,000 per month.
  2. The bill also proposes the establishment of a National Minimum Wage Review Committee to review the minimum wage every five years.
  3. The bill provides for the payment of the minimum wage to all categories of workers, including those in the informal sector.

Reactions:

The passage of the bill has been welcomed by various stakeholders, including labor unions and civil society organizations. The Nigeria Labour Congress (NLC) has hailed the development, saying it is a major victory for workers in the country.

However, some critics have expressed concerns that the increase in the minimum wage may lead to inflation and other economic challenges.

Next Steps:

The bill will now be sent to the House of Representatives for concurrence. If the bill is passed by the House, it will be sent to President Muhammadu Buhari for assent.

Timeline:

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

Sources: