The senate has passed the new minimum wage bill for a third reading.
In less than one hour on Tuesday, the law passed its first reading (at President Bola Tinubu’s request), second reading (discussion on broad principles), and third reading.
The bill aims to increase the minimum salary in the nation from N30,000 to N70,000.
While leading a debate on the bill, Opeyemi Bamidele, majority leader of the senate, said N70,000 was agreed upon by all the parties after negotiations.
On his part, Tahir Monguno, chief whip, said there is a need to review the minimum wage in line with economic realities.
“The review of the minimum wage hitherto by law is to be reviewed after five years is now every three years,” Monguno said.
Thereafter, the senate dissolved into the “committee of the whole” to approve clauses of the bill.
Last week, Tinubu asked the national assembly to increase the 2024 appropriation Act by N6.2 trillion.
The president said N3.2 trillion is for infrastructure projects and N3 trillion for recurrent expenditure.
