The Senate on Tuesday passed the amended National Minimum Wage Act to increase the minimum wage from N30,000 to N70,000.
The bill which was submitted to the National Assembly was passed by the green chambers after the first, second, and third readings.
The senate will await the concurrence of the House of Representatives before it is transmitted to President Bola Tinubu for assent into law.
After the Bill titled: “Minimum Wage Act (Amendment) Bill, 2024 (SB. 550)” was read for the first time, Majority Leader, Opeyemi Bamidele moved a motion that the Senate should suspend its relevant rules to enable the Senate to consider the Bill for Second and Third reading.
All the senators unanimously adopted the motion when it was put to voice vote by Senate President Godswill Akpabio.
Senator Bamidele while leading the debate on the general principles of the Bill, said it seeks to amend the National Minimum Wage Act, 2019 to increase the National Minimum Wage and reduce the time for periodic review of the national minimum wage from five years to three years and related matters.
He therefore urged his colleagues to support the passage of the bill.