By John Odunayo
The Senate on Tuesday passed the National Minimum Wage Bill, 2024.
The senators approved the bill during its first, second, and third readings.
President Bola Tinubu had earlier on Tuesday forwarded the bill to the Senate.
Tinubu stated that the bill prescribed a national minimum wage and also provided a legal framework for a seamless review of the minimum wage.
The new minimum wage, as specified in the bill, is N70,000, an increase from the current N30,000.
Additionally, the period for reviewing the minimum wage has been reduced from five years to three years.
