President Bola Tinubu has signed a new minimum wage bill into law, raising the minimum wage to ₦70,000. The signing at the State House in Abuja follows swift approval by the National Assembly. This landmark decision aims to improve workers' livelihoods and address economic disparities in Nigeria.
President Bola Tinubu has officially signed the new minimum wage bill into law, marking a significant development after months of extensive discussions between the government, labor unions, and the private sector. The signing ceremony took place at the State House in Abuja on Monday, just days after the National Assembly swiftly passed the bill.
This new legislation aims to raise the minimum wage to ₦70,000, reflecting the government's commitment to improving the livelihood of Nigerian workers and addressing economic disparities. The move has been met with varied reactions from different sectors, highlighting the ongoing dialogue about wage standards in Nigeria. The bill's passage and subsequent signing are seen as pivotal steps towards economic reform and worker welfare in the country.
Further details on the implementation and impact of the new minimum wage law are anticipated in the coming days.
