The Senate has successfully passed the new national minimum wage bill into law, following its transmission from President Bola Tinubu.
This legislative action follows an agreement reached last week between the Federal Government and Labour leaders on the new national minimum wage.
The newly passed bill awaits concurrence from the House of Representatives, as requested in a letter from President Tinubu.
One of the notable changes in the new bill is the provision for wage reviews every three years, a departure from the previous five-year review period.
The new minimum wage aims to alleviate the economic challenges currently facing Nigerians, providing a more timely and responsive mechanism to adjust workers’ wages in line with inflation and cost of living increases.
