The Senate on Tuesday passed the New Minimum Wage Bill into law.
It was titled “A Bill for an Act to Amend the National Minimum Wage Act 2019 to increase the National Minimum Wage and reduce the time for period review of the National wage from five years to three years and for related matters 2024.”
The Bill amended the Section 3 (4) of the Minimum Wage Act No. 8 of 2019 substituting the figure N30,000 with N70,000.
Section 3 (4) of the Principal Act was also amended by substituting five years with three years.
The bill was accorded accelerated consideration as it passed first, second and third reading at plenary because the Red Chamber amended its rules to achieve the passage. (Thisday)