PeakNews Online
In a historic move, the Senate on Tuesday passed a new national wage bill into law, raising the minimum wage from N30,000 to N70,000. The bill, sent by President Bola Ahmed Tinubu, was swiftly processed, undergoing its first reading, general debate, and third reading within an hour.
Senate Leader Opeyemi Bamidele, leading the debate on the bill, highlighted that the N70,000 minimum wage was a result of thorough negotiations between all parties involved. “This is part of the federal government’s short-term measure to mitigate the situation in the country,” Bamidele stated.
Chief Whip Tahir Monguno emphasized the necessity of the wage increase to reflect current economic realities. “The review of the minimum wage used to be 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,” Monguno said.
Following the debate, the Senate dissolved into the “committee of the whole” to approve the bill’s clauses.
This legislative action comes on the heels of President Tinubu’s request last week for the National Assembly to increase the 2024 appropriation act by N6.2 trillion, with N3.2 trillion earmarked for infrastructure projects and N3 trillion for recurrent expenditure.
