Nigeria minimum wage news now

Here are some recent 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 (approximately $75) to N52,000 (approximately $130) per month. The bill is now awaiting presidential assent.
• On April 20, 2022, the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) gave the government a 14-day ultimatum to implement the new minimum wage, threatening to embark on a nationwide strike if the demand is not met.

Background:

• In 2019, the Nigerian government increased the national minimum wage from N18,000 (approximately $45) to N30,000 (approximately $75) per month.
• The current minimum wage has been in place since 2019, but workers have been demanding a review due to the rising cost of living and inflation in the country.
• The NLC and TUC have been pushing for a minimum wage of N65,000 (approximately $160) per month, while the government has been proposing a figure of N40,000 (approximately $100) per month.

Reactions:

• The Nigerian Governors' Forum has expressed support for the proposed increase in the minimum wage, but has also called for a review of the wage bill to ensure that it is sustainable.
• The Manufacturers Association of Nigeria (MAN) has expressed concerns about the impact of a higher minimum wage on businesses and the economy, warning that it could lead to job losses and inflation.
• The Academic Staff Union of Universities (ASUU) has called for a review of the minimum wage for university lecturers, who are currently paid a minimum wage of N30,000 (approximately $75) per month.

Next Steps:

• The government is expected to respond to the Senate's passage of the National Minimum Wage (Amendment) Bill, 2022, and either sign the bill into law or reject it.
• If the bill is signed into law, the government will need to implement the new minimum wage, which could involve negotiations with state governments and employers.
• The NLC and TUC have threatened to embark on a nationwide strike if the government fails to implement the new minimum wage, which could have significant economic and social implications for the country.