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HomeNewsFederal Government Announces New Minimum Wage Effective May 1, 2024

Federal Government Announces New Minimum Wage Effective May 1, 2024

The Federal Government has declared that the new minimum wage will come into force on May 1, 2024, despite ongoing negotiations by the Tripartite Committee on National Minimum Wage.

 

Minister of State Labour, Nkeiruka Onyejeocha, assured workers during the May Day celebration in Abuja that the delay in finalizing the wage increase won’t impact employees.

 

While acknowledging the delay, she emphasized ongoing consultations to expedite the process. Nigerian Labour Congress and Trade Union Congress have urged President Bola Tinubu’s administration to accelerate wage adjustments, proposing N615,000 as the new minimum wage.

 

They argue that the current wage of N30,000 fails to address workers’ needs amid economic challenges. Concerns also arise over non-compliance by some governors with the previous wage, set in 2019.

 

The Minimum Wage Act of 2019 stipulates a review every five years to align with economic realities. Stay tuned for further updates on this development.

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