President Bola Tinubu, on Monday, signed the newly passed N70,000 National Minimum wage bill into law, a move that might have been intended to further douse the growing tension occasioned by the proposed nationwide protest.
The president assented to the bill in the course of the Federal Executive Council (FEC) meeting at the Council Chamber of the State House, Abuja.
President of the Senate, Senator Godswill Akpabio, led the leadership of the 10th National Assembly to join the president in the symbolic signing exercise.
Akpabio, later spoke to newsmen at the State House, Abuja after the president signed the National Minimum Wage Bill into an Act, raising the least wage a Nigerian worker at any establishment would be paid from N30,000 to N70,000.
According to the Senate President, the new Act applied to all employers of labour in the country, including federal, state, and local governments, as well as private sector employers.
Akpabio, emphasised that the N70,000 minimum wage was not a maximum, and employers with the capacity to pay more were encouraged to do so.
He praised Tinubu for his commitment to Nigerian workers, noting that the National Assembly passed the bill in one day due to its importance.
Expressing excitement about the new law, the Chairman of the National Assembly said, “The national minimum wage amendment is for the whole nation; for the federal government, for the states, for the local governments, for the private sector and even for individual employers.
“So, I think this is a great day for the workers in the country. We are not only doubling the minimum wage, we have added something on top. Initially it was N30,000, now it is N70,000.
“Like I said, this is minimum, this is not maximum. Any employer that has the capacity can pay as much as you want, but no Nigerian worker will offer services and be paid anything less than N70,000 from today. That is the implication of this Act.
“It applies all over the nation and we are excited that this is happening at a time like this, through President Tinubu, a man who cares for the Nigerian workers and you see what we are doing in the National Assembly.
“When it came, the entirety of the National Assembly moved and passed the bill in one day out of excitement. We felt that this was not something we could delay. So, I think the workers are happy,” he said.
Speaker of the House of Representatives, Hon Tajudeen Abbas, also said the signing of the new law was a demonstration of Tinubu’s care for the wellbeing of Nigerians.
The Speaker, represented by the House Leader, Prof. Julius Ihonvbere, said, “This is an action from the president to show that he cares about the Nigerian people.
“In addition to signing the North East Development Commission, the North West Development Commission and the South East Development Commission, this has never happened in Nigeria.
“So, I think this movement from N30,000 to N70,000 and reducing the negotiation (from five to three) years is a clear demonstration of a commitment to redirect, refocus and reposition Nigeria for greatness.”
Deputy Senate President, Senator Jibrin Barau and the Leader of the Senate, Senator Opeyemi Bamidele, also commended the president.
Similarly, the Nigeria Labour Congress (NLC) has expressed happiness at the quick assent given to the new minimum wage by Tinubu.
The NLC’s Head of Information and Publicity, Benson Upah, said the labour centre would like to see its immediate implementation.
“We are happy that he has given his assent and it is our wish that payment complete with arrears will begin immediately.
“And it is also our wish that governors comply immediately, all entities that are affected by the law comply immediately and appropriately,” he said.
Meanwhile, Akpabio, has disclosed that the amendment to the 2024 Appropriation Act, which would fund the new minimum wage, was expected to be passed by the National Assembly tomorrow.
Also, yesterday, the two chambers of the National Assembly assured the Nigerian women of Gender Responsive Budgeting in coming fiscal years.
Asked how soon the amendment to the budget would be ready, Akpabio said, “We have gone very far with it and I expect that by Wednesday it will be passed.”
