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Minimum Wage: National Council of State Approves N27,000

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  • Minimum Wage: National Council of State Approves N27,000

The National Council of State has approved N27,000 as the new national minimum wage, Dr Chris Ngige, the Minister of Labour and Employment, disclosed on Tuesday.

Dr Ngige, who briefed State House on the outcome of the Council’s meeting, said the bill of the new national minimum wage would be forward to the National Assembly by Wednesday for passage into law.

According to the minister, the N27,000 is the benchmark for all employers with more than 25 employees, explaining that no employer with more than 25 workers should pay less than the N27,000.

The minister, however, said the Federal Government had agreed to pay N30,000 as the new national minimum wage, while the State Governments would be allowed to negotiate with their respective staff.

The organised labour had insisted on a N30,000 minimum wage agreed by the tripartite committee in October, while the Nigeria Governors Forum (NGF) proposed N22,500, citing limited resources.

Again, the Nigeria Labour Congress (NLC) has rejected the N27,000 approved by the state council, according to Dr Peter Ozo-Eson, the NLC General Secretary, who briefed News Agency of Nigeria on Tuesday in Abuja.

“It is abysmal of government to be delaying the submission of an Executive Bill to the National Assembly and by wrongfully adopting N27,000 through the council of states,” he said.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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