Good news for workers as Tinubu-led FG announces date to begin payment of new minimum wage

President Bola Tinubu-led federal government has said that the new minimum wage for Nigerian workers would commence from April 1, 2024.

Idris Mohammed, the minister of information and orientation, disclosed the development in an interview, adding that the current minimum wage of N30 thousand would cease to exist from March 2024, The Punch reported.

This is coming as the analysis of the 2024 –2026 Fiscal Framework budgets showed that Tinubu's administration planned to spend N24.66tn on salaries in 2024, 2025, and 2026.

Recall that President Tinubu agreed to pay N35,000 to each of the federal workers to cushion the fuel subsidy removal, which he announced on his inauguration day, May 29.

On their part, the organised labour said the new wage award was not a lasting measure, insisting that the new minimum wage should be reviewed.

Organised labour confirms talk with federal government on minimum wage

On Thursday, November 30, the labour union confirmed that they are already negotiating with the federal government, adding that the law provided that the minimum wage should be reviewed every five years.

The minister also noted that the improved minimum wage was meant to replace the current wage award put in place by the Tinubu's administration to cushion the effect of the fuel subsidy on the workers.

His statement reads in part: “Certainly, there is a new wage regime that will come in on April 1, 2024. That is why these palliatives were targeted so they would cushion economic hardship before then."