When Tinubu Will Sign ₦70,000 Minimum Wage Bill Emerge

President Bola Tinubu is expected to sign the new Minimum Wage Bill into law next week following its rapid passage by the National Assembly.

Multiple sources within the National Assembly confirmed that the bill was finalized on Wednesday and transmitted to the President on Thursday.

This development came after both chambers of the National Assembly gave the bill an expedited passage during Tuesday’s plenary sessions.

Senator Abdullahi Gumel, the Senior Special Assistant on National Assembly Matters, affirmed the transmission of the bill. “The bill will be transmitted today (Thursday),” Gumel informed Punch on Thursday.

The President is anticipated to give his swift assent to the bill, which marks a significant increase in the national minimum wage from ₦30,000 to ₦70,000.

The Senate and the House of Representatives both swiftly passed the National Minimum Wage Act 2019 (Amendment Bill).

The bill underwent second and third readings in both chambers within minutes of being transmitted by the President.

Following a unanimous vote after a clause-by-clause consideration by the Committee of the Whole, the bill passed its third reading and was approved by the Senate. The House of Representatives mirrored this approval immediately.

The President had earlier sent an executive bill on the new national minimum wage to the National Assembly, requesting prompt consideration and passage.

He also proposed reducing the period for periodic review of the national minimum wage from five years to three years.

This legislative action follows an agreement between President Tinubu and labour leaders, setting the new minimum wage at ₦70,000. This new wage replaces the previous ₦30,000 minimum wage that expired on April 18, 2024.