By Milcah Tanimu
Nigeria’s National Assembly has passed a significant bill raising the national minimum wage to N70,000 and reducing the review period to three years.
On Tuesday, both the Senate and the House of Representatives approved the new minimum wage bill. Officially titled “A Bill for an Act to Amend the National Minimum Wage Act 2019,” this legislation increases the national minimum wage and reduces the review period from five years to three years. The bill specifically amends Section 3 (4) of the Minimum Wage Act No. 8 of 2019, replacing N30,000 with N70,000 and shortening the review period to three years.
In the Senate, the bill received accelerated consideration, swiftly passing through its first, second, and third readings after the Red Chamber amended its rules. The House also endorsed President Bola Tinubu’s request to amend the 2019 National Minimum Wage Act, aligning with the newly approved national minimum wage.
Lawmakers promptly adopted all the provisions in the bill, officially raising the minimum wage from N30,000 to N70,000 and reducing the review period from five years to three years.
In related news, the Senate has confirmed the appointment of Dr. Olatunji Bello as the Chief Executive Officer/Executive Vice-Chairman of the Federal Competition and Consumer Protection Commission (FCCPC). This confirmation followed the consideration of a report from the Committee on Trade and Investment, chaired by Senator Sadiq Suleiman (APC, Kwara North).
Additionally, the Senate approved the appointment of Dr. Jobson Eseodion Ewalefoh as the Director-General of the Infrastructure Concession Regulatory Commission (ICRC).
