President Bola Tinubu has officially signed the new N70,000 minimum wage law.
The signing took place in the council chamber of the State House during a brief suspension of the Federal Executive Council (FEC) meeting.
The leadership of the National Assembly, led by Senate President Godswill Akpabio, was present to witness the event.
Last Tuesday, both the Senate and House of Representatives swiftly passed the new minimum wage bill, completing all necessary readings within an hour.
This legislation raises the country’s minimum wage from N30,000 to N70,000 and mandates a review every three years. The previous minimum wage of N30,000 was established by former President Muhammadu Buhari in 2019.
Before the signing of the new law, the federal government and organized labor engaged in a series of meetings.
