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JUST IN: Tinubu signs minimum wage bill of N70,000 into law
The new minimum wage measure was enacted by the House of Representatives and the Senate on Tuesday.
Within an hour, the law was approved on its first reading (at President Bola Tinubu’s request), its second reading (discussion on basic principles), and its third reading in both the upper and lower legislative chambers.
The new N70,000 minimum wage bill was signed into law by President Bola Tinubu yesterday.
In the middle of a meeting of the Federal Executive Council, or FEC, the president signed the bill in the State House’s council chamber.
The National Assembly’s leadership, led by Senate President Godswill Akpabio, wanted to see the measure signed, therefore the council adjourned the meeting.
The new minimum wage measure was enacted by the House of Representatives and the Senate on Tuesday.
Within an hour, the law was approved on its first reading (at President Bola Tinubu’s request), its second reading (discussion on basic principles), and its third reading in both the upper and lower legislative chambers.
The legislation increased the country’s minimum wage from N30,000 to N70,000. The law also provides for a review of the minimum wage every three years.
The last minimum wage of N30,000 was signed by former President Muhammadu Buhari in 2019.
Prior to the enactment of the new minimum wage act, the federal government and organised labour held a series of meetings.
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