Nigerian minimum wage latest news

Here are the latest news updates on the Nigerian minimum wage:

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 and Productivity) presented by Senator Oluremi Tinubu (APC, Lagos Central).
• The bill will now be sent to the House of Representatives for concurrence before it can be forwarded to President Muhammadu Buhari for assent.

Background:

• In 2019, the Nigerian government increased the national minimum wage from N18,000 to N30,000 per month.
• However, the minimum wage has not been reviewed since then, leading to calls for an increase to reflect the current economic realities.
• The Nigeria Labour Congress (NLC) and other labour unions have been pushing for a review of the minimum wage, citing the high cost of living and the need to ensure a decent standard of living for workers.

Key Provisions of the Bill:

• The bill seeks to increase the national minimum wage from N30,000 to N40,000 per month.
• It also provides for the establishment of a National Minimum Wage Committee to review the minimum wage every five years.
• The bill also provides for the payment of a minimum wage to all categories of workers, including those in the informal sector.

Reactions:

• The Nigeria Labour Congress (NLC) has welcomed the passage of the bill, describing it as a "victory for workers".
• The NLC has also called on the House of Representatives to concur with the Senate's passage of the bill.
• The Nigerian Employers' Consultative Association (NECA) has expressed concerns about the impact of the proposed increase on businesses, saying it may lead to job losses and inflation.

Next Steps:

• The bill will now be sent to the House of Representatives for concurrence.
• If the House of Representatives passes the bill, it will be forwarded to President Muhammadu Buhari for assent.
• Once assented to, the new minimum wage will take effect, and employers will be required to pay their workers the new minimum wage.

I hope this information is helpful!