The Senate has expeditiously passed the National Minimum Wage Bill, setting the new minimum wage at N70,000, in accordance with President Bola Tinubu’s request.
The bill, which was transmitted to the Senate on Tuesday, underwent accelerated consideration and successfully cleared its first, second, and third readings in rapid succession.
In addition to establishing the new minimum wage, the Senate also amended the national minimum wage review period, reducing it from five years to three years.
This revision aims to facilitate more frequent evaluations and adjustments, ensuring that the minimum wage remains responsive to prevailing economic conditions and the evolving needs of Nigerian workers.
