The Senate has passed the National Minimum Wage Bill, 2024.
Senators approved the bill during its first, second, and third readings on Tuesday.
President Bola Tinubu forwarded the bill to the Senate on the same day.
Tinubu stated that the bill prescribes a national minimum wage and provides a legal framework for a seamless review of the minimum wage.
The new minimum wage, as specified in the bill, is N70,000, an increase from the current N30,000.
Additionally, the review period for the minimum wage has been reduced from five years to three years.
