President Tinubu Finally Signs ₦70,000 New Minimum Wage Bill Into Law

President Bola Ahmed Tinubu has officially enacted the National Minimum Wage Amendment Bill 2024.

The President executed the signing during a session of the Federal Executive Council (FEC) on Monday, July 29, 2024.

As a result of this enactment, the new national minimum wage is now legally established, entitling Nigerian workers to a minimum monthly salary of ₦70,000.

Bayo Onanuga, the Special Adviser to President Tinubu on Information and Strategy, confirmed this development, noting that the law stipulates a review of the ₦70,000 wage every three years.

Senate President Godswill Akpabio and other leaders of the National Assembly attended the signing ceremony.

The President expressed gratitude to the legislative leaders for their prompt approval of the bill, which has now been formalized into law.

“President Bola Ahmed Tinubu today signed the new National Minimum Wage Amendment Bill 2024 into law. The law which prescribes a minimum of N70,000 as a monthly salary, is reviewable every three years.

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“President Tinubu signed the bill midway into the Federal Executive Council meeting. The Head of Service said the new law will undoubtedly reassure the workers that the President cares about their welfare.

“Senate President Godswill Akpabio led National Assembly leaders to the signing ceremony.

“President Tinubu thanked the National Assembly for accelerating the passage of the law,” the presidential aide confirmed in a post via his X handle on Monday.

It is important to note that the presidency has announced that the new national minimum wage is anticipated to be implemented starting in April 2024.

Dada Olusegun, the Special Assistant to President Bola Tinubu on Social Media, shared this information in a post on X, indicating that employees will receive back pay reflecting their wage increase from this date.