Senate passes 2024 National Minimum Wage Amendment Bill

The Senate on Tuesday at plenary, passed the 2024 National Minimum Wage Amendment Act Bill.

The passage followed the presentation and adoption of report on the bill presented by Senator Opeyemi Bamidele (Ekiti Central), Senate Leader.

The bill which received expeditious passage was transmitted to Senate by President Bola Tinubu on July 23, resulting in its first, second, third readings and passage.

Leading the debate on the general principles of the bill, Senator Bamidele said the bill sought to amend the national minimum wage act, 2019.

According to him, the bill seeks to increase the national minimum wage and reduce the time for periodic review from five years to three years.

He said in recent times, plethora of agitations and clamour have been recorded from organised labour and other segment of the society for increase in national minimum wage, given prevailing economic situation in Nigeria.

“In response to agitations and after series of negotiations between Federal Government and the organised labour, the current national minimum wage of N30,000 only has been reviewed upward to the N70,000”, he said.

According to him, it is part of Federal Government’s short-term measure to mitigate the situation in the country, as efforts are being made to bring long-term solutions that would align with yearnings and aspirations of Nigerians and bring succour.

Therefore, Opeyemi urged lawmakers to support the quick passage of the bill, adding that its passage was sacrosanct to the socio-economic and political wellbeing of Nigeria.