In a significant legislative move, the Senate, on Tuesday, approved the 2024 National Minimum Wage Amendment Act Bill, effectively raising the minimum wage to N70,000.
The bill, presented and supported by Senate leader Opeyemi Bamidele (APC-Ekiti), was expedited following its transmission to the Senate by President Bola Tinubu on July 23.
Under Senate Rule 80, the bill underwent both first and second readings promptly. Bamidele, in his address outlining the bill’s core principles, emphasized its intent to amend the National Minimum Wage Act of 2019. He underscored that the amendment not only increases the minimum wage but also shortens the review period from five years to three years.
