The Federal Government’s Committee on Consequential Adjustments in Salaries has agreed to implement the new minimum wage of₦70,000 from July 29, 2024.
According to a Memorandum of Understanding obtained in Abuja on Friday, the National Salaries, Income, and Wages Commission (NSIWC) will generate salary templates for consolidated salary structures.
The MoU reads: “The NSIWC will generate the appropriate salary templates for other consolidated salary structures for implementation; the effective date of the implementation shall be July 29, 2024.”
The implementation follows the National Minimum Wage Act 2024, which raised the minimum wage from N30,000 to N70,000.
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