President Bola Tinubu has signed the new Minimum Wage Act into law.

The signing took place at 2 pm on Monday, July 29, 2024, at the Council Chamber of the Presidential Villa in Abuja. Present at the ceremony were the President of the Senate, Godswill Akpabio, Deputy Senate President, Barau Jibrin, and other government officials.

This development follows an agreement between organized labour and the government to set the minimum wage at ₦70,000 after a meeting with President Tinubu.

Initially, the National Labour Congress had demanded a new national minimum wage of ₦250,000.

However, after extensive deliberations with the government and a promise to review the wage every three years, the ₦70,000 minimum wage has now been enacted into law.