Nigerian workers have started receiving the new minimum wage of N70,000, as confirmed by Benson Upah, spokesperson of the Nigeria Labour Congress, and Tommy Etim, Deputy President of the Trade Union Congress.
This development follows President Bola Ahmed Tinubu’s approval of the new minimum wage on July 18, 2024, and the Senate’s passage of the bill into law.
The Nigeria Labour Congress and Trade Union Congress had initially demanded a minimum wage of N615,000, citing the high cost of living in the country. However, the government settled on N70,000, representing a 100% increase from the previous minimum wage of N30,000.
Reacting to the payment commencement, Upah urged other establishments to follow the Federal Government’s lead, saying, “Yes, I think so. We ask other entities to emulate this example”. Etim added, “FG’s committee on consequential adjustments already released a template, so, no one has any moral ground to delay the payment of the minimum wage. We now advise that all other parties follow suit and commence the payment of the new minimum wage”.
A civil servant confirmed receiving the new minimum wage payment for September 2024, stating, “I got an alert around 2 pm on Thursday. I am hoping the arrears will come too” ¹. Federal workers received an additional N40,000 as consequential adjustment, benefiting over 1.2 million workers under the federal government’s payment.
The National Salaries, Incomes and Wages Commission Chairman, Ekpo Nta, confirmed the government’s approval of the upward review of the consolidated public service salary structure ¹. This move aims to alleviate the economic pressures faced by Nigerian workers amidst rising inflation rates, which stood at 32.15% and 37.52% for headline and food inflation in August 2024.
*Key Highlights:*
– _New Minimum Wage_: N70,000, representing a 100% increase from the previous minimum wage.
– _Payment Commencement_: Federal Government begins payment to Nigerian workers.
– _Labour Union’s Demand_: N615,000 minimum wage initially demanded by the Nigeria Labour Congress and Trade Union Congress.
– _Inflation Rates_: Headline and food inflation stood at 32.15% and 37.52% in August 2024.
