This followed the presentation of the National Minimum Wage Act CAP N61 LFN (repeal and re-enactment) Bill, 2019 (SB. 722) to lawmakers on Tuesday by the Chairman of the Ad-hoc Committee on National Minimum Wage, Senator Francis Alimikhena, and was read for the third time and then passed by the Senators.
In his speech during plenary, the Senate President, Dr. Bukola Saraki, commended the Nigeria Labour Congress (NLC) for carrying out their efforts responsibly and ensuring that their demands were heard.
“I want to commend the leaders of the organisations of the union. Let me also state that as government, we should ensure that at times like these, we should not wait for there to be strikes to do what is truly deserving for our workers.
“I hope that with this minimum wage our workers will double their efforts to increase their productivity so that we can also improve the general productivity of the country. It is my hope that the implementation of this will start immediately,” Saraki said.
The members of the House of Representatives had earlier passed the National Minimum Wage Bill.
Meanwhile, the Minister of Budget and National Planning, Mr. Udo Udoma, has said that the Federal Government is considering increasing the Value Added Tax (VAT) to enable it fund the new national minimum wage.
Speaking when he appeared before the Senate Committee on Finance on Tuesday in Abuja, Udoma said that the Technical Advisory Committee on the minimum wage, would submit its report to President Muhammadu Buhari this week.
“The current minimum wage of N18,000 is really too low. It is difficult for workers to manage on that amount.
“The President supported a review, but it is important that as we are revising it, we should be able to fund it.
“It is in the light of this that we would be coming to you (Senate) because there may be the need to make some changes, especially the VAT, in order to fund the minimum wage once it is announced,” he said.