President Bola Tinubu has formally presented the Minimum Wage Bill to the National Assembly for consideration and passage. On Tuesday, the President sent letters to both the Senate and the House of Representatives, urging them to expedite the bill, which proposes raising the National Minimum Wage from ₦30,000 to ₦70,000.
The proposed bill also aims to amend the National Minimum Wage Act of 2019 by reducing the review period for the minimum wage from five years to three years.
President Tinubu had previously agreed to the ₦70,000 minimum wage in discussions with Organised Labour last week.
The introduction of the bill represents a significant effort to address wage inequality and enhance the economic well-being of Nigerian workers.
