President Bola Tinubu has signed the minimum wage bill into law, ending months of deliberations between government authorities, labour unions, and the private sector.
He signed it at the State House in Abuja on Monday days after the National Assembly had passed the bill.
The Senate and the House of Representatives swiftly passed the National Minimum Wage Act 2019 (Amendment Bill).
The bill, which underwent second and third readings in both legislative chambers of the National Assembly within minutes of being transmitted by the President, was approved separately by the Senate and the House of Representatives.
Following a unanimous vote after a clause-by-clause consideration by the Committee of the Whole, the National Minimum Wage Bill passed its third reading and was approved by the Senate.
The House of Representatives passed the bill immediately, mirroring the Senate’s actions.
READ ALSO: N70,000 new minimum wage applies to domestic workers — Akpabio
The President had transmitted an executive bill on the new national minimum wage Bill to the National Assembly for consideration and passage.
He separately wrote to the Senate and the House of Representatives, requesting prompt consideration of the bill to amend the National Minimum Wage Act 2019, to reflect the new minimum wage from N30,000 to N70,000.
However, the Trade Union Congress last week called on President Bola Tinubu to sign the new minimum wage bill into law.
The Congress also seeks Mr. President’s intervention in the crisis between a major stakeholder in the oil and gas sector and regulators over the quality of refined crude products.
The Congress commended the parliament for expeditious delivery on the bill and called on President Bola Tinubu to sign it into law
The Congress also spoke on the raging crisis between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
TUC says if not nipped in the bud, the feud may impact negatively on foreign investment.
And as the planned nationwide protest draws close, TUC also called on the Inspector General of Police, Kayode Egbetokun and other security chiefs to guarantee safety of lives and property.
The congress reaffirmed its appeal on the Central Bank of Nigeria to address the naira’s flotation in order to stabilize the economy and reduce the cost of goods and services.
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