BREAKING: New Minimum Wage Will Take Effect From May 1, 2024 - FG

L-R: Labour Minister Nkiruka Onyejeocha, NLC President Joe Ajaero, Vice President Kashim Shettima, and TUC boss, Festus Osifo in Abuja on May 1, 2024

The Federal Government has said that although the Tripartite Committee On National Minimum Wage was yet to conclude its negotiations, workers will not lose anything as the new minimum wage will take effect from May 1, 2024.

The Minister of State for Labour, Hon. Nkeiruka Onyejeocha, stated this on Wednesday while addressing Nigerian workers at the May Day celebration in Abuja.

The Minister said it was regrettable that the new national minimum wage was not ready before this year’s Workers’ Day, but that a wide consultation was ongoing to ensure that the document is out together as soon as possible.

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) had at various times called on the administration of President Bola Tinubu to hasten the upward review of wage awards.

Recently, the Organised Labour demanded N615,000 as the new minimum wage for workers in order to cope with the many economic realities and high cost of living in Nigeria.

The labour unions said the current minimum wage of N30,000 can no longer cater for the well-being of an average Nigerian worker, lamenting that not all governors were paying the current wage, which expired in April, five years after the Minimum Wage Act of 2019 was signed by former President Muhammadu Buhari. The Act is to be reviewed every five years to meet up with contemporary economic realities.