Senate President Godswill Akpabio expressed his excitement about President Bola Tinubu’s signing of the National Minimum Wage Amendment Bill 2024, calling it a great day for Nigerian workers.
Persecondnews reported that following its passage by the National Assembly last week, President Tinubu on Monday assented to the bill at 2 p.m. at the Council Chambers of the Presidential Villa, Abuja.
Akpabio, the Deputy Senate President, Sen. Barau Jibrin, and the House Leader, Prof. Julius Ihonvberem, who represented the Speaker of the House of Representatives, Mr. Tajudeen Abbas, witnessed the brief ceremony.
The signing of the bill followed a consensus reached nearly two weeks prior between Tinubu and the organized labor unions, including the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) of Nigeria, which fixed the new minimum wage at N70,000.
Speaking with State House correspondents after the signing ceremony, Akpabio said: “I’m ecstatic. I’m excited about the Nigerian worker and the national minimum wage amendment, which applies to the whole nation: The Federal Government, the states, the local governments, the private sector, and even individual employers.
“So, I think this is a great day for the workers in the country. We are not only doubling the minimum wage, but we have added something on top. Initially, it was N30,000; now, it is N70,000.”
He emphasized that the new minimum wage is now the norm, suggesting that no worker in Nigeria will receive less than the value of their services, starting immediately.
He said: “This law applies nationwide, and we are thrilled that it has been enacted under Tinubu’s leadership at this critical time.
“Like I said, this is not the maximum. Any employer with the capacity can pay as much as you want.
“And you have seen what we are doing in the National Assembly. When it came, the entire National Assembly moved and passed the bill in one day out of excitement. We felt that this was not something we could delay.”
The Senate President also said President Tinubu will sign the 2024 budget amendment bill into law on Wednesday, July 31, 2024.
He said: “We have gone very far with it. And I expect that it will be signed by Wednesday.”
Persecondnews recalls that the Federal Executive Council’s directive on July 15 tasked the Minister of Budget and Economic Planning with drafting a bill to revise the 2024 Budget.
Subsequently, on July 22, President Tinubu submitted a request to the Senate to amend the 2024 Appropriation Act and the 2023 Finance Act, seeking an increase of ₦6.2 trillion in the budget.
Tinubu’s request to amend the 2024 Appropriation Act was formally presented to Akpabio, who read it during a plenary session.
Citing Section 58(2) of the 1999 Constitution (as amended), the President sought approval for a ₦6.2 trillion increase, which the Senate subsequently granted.
This revision boosts the national budget for the year from ₦28.7 trillion to ₦35.055 trillion.
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