The Minister of State for Labour, Nkeiruka Onyejeocha, has reassured Nigerian workers that the new national minimum wage would take effect from May 1, 2024.
She added that this is in spite of ongoing negotiations by the Tripartite Committee On National Minimum Wage.
The tentative adjustment is 25% of all current salaries.
Onyejeocha acknowledged that it is unfortunate the new minimum wage isn’t ready yet, but that extensive consultations are underway to expedite the process.
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have consistently urged President Bola Tinubu’s administration to expedite the wage review.
Recently, they advocated for a new minimum wage of N615,000, citing the pressing economic realities and high cost of living in Nigeria.
The Minimum Wage Act of 2019 mandates a review every 5 years to align with evolving economic conditions.