Nigeria news on minimum wage

Here are some recent news articles and 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 bill was signed by President Muhammadu Buhari on April 18, 2020. (Source: Vanguard News)
• The new minimum wage will take effect from April 18, 2020, and all employers of labor are expected to comply with the new wage structure. (Source: Premium Times)

Background:

• The minimum wage in Nigeria has been a subject of controversy for several years, with workers and labor unions demanding a significant increase 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 labor unions over the amount.

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 review of the minimum wage every five years to ensure that it keeps pace with inflation and the cost of living.
• The bill also provides for the establishment of a National Minimum Wage Committee to oversee the implementation of the new wage structure.

Reactions:

• The Nigerian Labour Congress (NLC) has welcomed the signing of the new minimum wage bill, describing it as a "victory for Nigerian workers". (Source: This Day Live)
• The NLC has also called on employers of labor to comply with the new wage structure and ensure that workers receive their new salaries promptly. (Source: The Punch)
• The All Progressives Congress (APC) has also welcomed the signing of the new minimum wage bill, describing it as a "step in the right direction". (Source: Leadership Newspaper)

Challenges:

• Despite the signing of the new minimum wage bill, there are concerns that the implementation of the new wage structure may be challenging, particularly for small and medium-sized enterprises (SMEs) that may struggle to absorb the increased costs.
• There are also concerns that the new minimum wage may not be enough to reflect the rising cost of living in Nigeria, particularly in urban areas.

Overall, the signing of the new minimum wage bill is a significant development in Nigeria, and it is expected to have a positive impact on the lives of millions of workers in the country. However, there are still challenges that need to be addressed to ensure that the new wage structure is implemented effectively and that workers receive their new salaries promptly.