The new minimum wage bill underwent a third reading.
By Ola Kay
The Nigeria Senate has passed the new minimum wage bill for a third reading. The bill passed first (President Bola Tinubu’s request), second (debate on general principles), and third readings on Tuesday, within an hour. The legislation seeks to raise the country’s minimum wage from N30,000 to N70,000
While leading a debate on the bill, Senator Opeyemi Bamidele, Majority Leader of the Senate, explained that N70,000 was agreed upon by all the parties after negotiations.
Sen. Bamidele noted that, “This is part of the federal government’s short term measure to mitigate the situation in the country.”
The Senate Chief Whip, Tahir Monguno, stressed the need to review the minimum wage in alignment with economic realities.“The review of the minimum wage used to be after every five years. It is now every three years…
“There is a need to review it and bring it in tandem with the realities of society.”
This led to the senate dissolved into the “committee of the whole” to approve clauses of the bill.
Last week, President Tinubu asked the National Assembly to increase the 2024 appropriation Act by N6.2 trillion.
The President stated that N3.2 trillion is for infrastructure projects and N3 trillion for recurrent expenditure.
The Minister of Budget and Economic Planning, Atiku Bagudu defended the President’s request before the House of Representatives Committee on Appropriations on Monday, saying that the N3 trillion is intended to cover the new national minimum wage.
About The Author
