A major breakthrough has been reached as the Committee on Consequential Adjustments in Salaries has agreed to raise Nigeria’s minimum wage from ₦30,000 to ₦70,000, starting from July 29, 2024.
This decision was formalized in a Memorandum of Understanding during a committee meeting in Abuja.
The 16-member committee is responsible for overseeing the smooth implementation of the new wage structure, as outlined in the National Minimum Wage Act 2024.
The wage increase is a significant step toward improving the living conditions of workers across the country, as the government seeks to address economic challenges and rising inflation.
More details to follow…
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