Senate Passes Minimum Wage Hike to N70,000 | #NwokeukwuMascot
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Another of Gov Otti’s Vows Put to the Test as Senate Approves New Minimum Wage | #NwokeukwuMascot
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ABUJA – In a decisive legislative move, the Senate has approved a bill to amend the National Minimum Wage Act of 2019, raising the minimum wage from N30,000 to N70,000. This significant change is in response to the economic challenges and persistent demands from organized labor for higher wages.
The Senate also passed a complementary bill on Tuesday, aiming to shorten the interval for periodic reviews of the national minimum wage from five years to three years. The National Minimum Wage (Amendment) Bill, 2024 (SB. 550), presented by Senate Leader Senator Opeyemi Bamidele (APC, Ekiti Central), received swift approval after passing through its first, second, and third readings.
In his address to the Senate, Senator Bamidele emphasized the bill's importance, stating, “Mr. President, Distinguished colleagues, I humbly rise to lead the debate on the general principles of the National Minimum Wage (Amendment) Bill, 2024 (SB. 550). The bill seeks to amend the National Minimum Wage Act, 2019, to increase the national minimum wage and reduce the time for periodic review from five years to three years.”
Senator Bamidele highlighted the urgency of the amendment, noting widespread public demand for wage increases due to current economic conditions. “You will recall, Mr. President, my dear colleagues, that in recent times, a plethora of agitations and clamors have been recorded from organized labor and other segments of our society for an increase in the national minimum wage, given the prevailing economic situation in the country. In response to these agitations and after a series of negotiations between the Federal Government and organized labor, the current national minimum wage of N30,000 has been reviewed upward to N70,000,” he explained.
This legislative development tests the integrity of Governor Alex Otti of Abia State, following his earlier promises. During his speech marking his first anniversary in office, Governor Otti reaffirmed his commitment to being the first to implement the new minimum wage once it is officially approved. He declared, “We are, however, conscious of our promise, and as soon as a headway is made, Abia will be among the first to pay whatever becomes the new national minimum wage.”
The Senate's passage of this bill marks a crucial step toward addressing the economic hardships faced by many Nigerians. As the legislative process progresses, attention will now focus on how quickly states can implement the new wage structure and the potential impact on both public and private sector employees. As it tests Governor Otti’s commitment, this will highlight whether he can set a positive precedent and signal a swift and responsive adaptation to the new wage standards in Abia State.
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