President Bola Tinubu has announced a plan to transmit the New National Minimum Wage to the National Assembly next week.
The Executive Bill will be transmitted after a meeting with Organized Labour’s leadership on Thursday, July 18.
Vanguard reported that the Tripartite Committee on the new National Minimum Wage submitted two separate figures to the President: N62,000 from the government and private sector and N250,000 from Organized Labour.
The new minimum wage is expected to be disclosed during debate at the national assembly once it is forwarded to the lawmakers.
President Tinubu had promised to harmonize the figures before sending the bill to the National Assembly.
Mohammed Idris, the minister of information and national orientation, confirmed that the President will transmit the bill after meeting with Organized Labour.
According to Idris, the minister of budget and national planning has been directed to prepare to amendment bill to the 2024 budget. It will be presented to the national assembly next week.
The executive will also send the National Assembly an amendment to the 2024 budget, which will include provisions for the new minimum wage.
The meeting with Organized Labour is a step towards resolving the minimum wage issue, which has been a subject of negotiation.
The transmission of the bill and the budget amendment indicate progress towards implementing the new National Minimum Wage.
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