Senate Approves New Minimum Wage Bill

The Senate passed a Bill on Tuesday, July 23, amending the National Minimum Wage Act to increase the minimum wage from N30,000 to N70,000 after the first, second, and third readings.

By this development, the bill will now await the concurrence of the House of Representatives before it is transmitted by the Clerk to the National Assembly, Sani Magaji Tambawal, to President Bola Tinubu for assent into law.

After the Bill titled: “Minimum Wage Act (Amendment) Bill, 2024 (SB. 550)” was read for the first time, Majority Leader, Opeyemi Bamidele moved a motion that the Senate should suspend its relevant rules to enable the Senate to consider the Bill for Second and Third reading.

All the senators unanimously adopted the motion when it was put to voice vote by Senate President Godswill Akpabio.

Senator Bamidele while leading the debate on the general principles of the Bill, said it seeks to amend the National Minimum Wage Act, 2019 to increase the National Minimum Wage and reduce the time for periodic review of the national minimum wage from five years to three years and related matters.

No Senator opposed the Bill during its consideration by the Committee of the Whole.

The Senators also unanimously approved that the Bill be read for the third time and passed when it was put to voice vote by Senate President Godswill Akpabio.