The Senate has ratified the National Minimum salary Amendment Act, which establishes a new national minimum salary of N70,000.
First reading was held for the executive bill, which was received from the executive branch of government and sought to change the Act to allow for an upward review of workers’ salaries.
Senate Leader Bamidele Opeyemi read the bill’s fundamental principles and clarified that, given that the Act was last revised in 2019, if the measure is passed, the minimum wage review period would be shortened from five to three years in order to better reflect current economic realities.
All senators agreed that the bill, which was the result of talks between organized labor and the executive branch, ought to be approved.
The law was swiftly passed by the Senate for a second reading, and senators then dissolved into a committee of the whole to approve the bill for a third reading.
