President Bola Tinubu has signed the Minimum Wage Act 2024 into law, increasing the National Minimum Wage from ₦30,000 to ₦70,000.
The signing ceremony took place at the State House in Abuja on Monday, following the National Assembly’s passage of the bill.
A delegation from the National Assembly, led by Senate President Godswill Akpabio and members of the House of Representatives, witnessed the historic event.
Basheer Lado, Special Adviser to the President on Senate Matters, described the signing as “a promise kept and a demonstration of President Tinubu’s people-centric governance model.”
He noted that Tinubu had promised to pay a living wage to Nigerian workers during his election campaign.
The new law follows months of negotiations between the government and labour unions, who demanded a higher minimum wage due to the rising cost of living after the fuel subsidy removal and naira flotation.
The unions initially proposed ₦494,000, but after a series of negotiations, a consensus figure of ₦70,000 was reached on July 18.
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