Nigerian President Bola Tinubu has signed the new national minimum wage bill of N70,000 into law.
The signing of the bill on Monday in the Council Chamber of the State House, Abuja during the Federal Executive Council (FEC) meeting was witnessed by the leadership of the National Assembly, led by the Senate President, Sen. Godswill Akpabio.
It will be recalled that the Senate and the House of Representatives passed the new minimum wage bill last Tuesday.
The new minimum wage was raised from N30,000 to N70,000 after about six months of negotiations between the Federal Government and the Organised Labour. The new law, however, provides for a review of the minimum wage every three years instead of five years in the previous wage law.
GIK/APA