The National Minimum Wage Act 2024 is now a reality, and it’s bringing some much-needed relief to civil servants in Nigeria.
The Committee on Consequential Adjustments in Salaries has announced that the new minimum wage will take effect from July 29, 2024, as part of the implementation of the Act.
This development is a significant step towards ensuring fair labor practices in Nigeria, especially amidst the country’s economic challenges.
Key Highlights of the National Minimum Wage Act 2024:
Increased Minimum Wage: A higher minimum wage rate for all workers in Nigeria.
Shortened Review Period: The review period for the minimum wage rate has been reduced from five years to three years ¹.-
Implementation Date: The new minimum wage will be implemented from July 29, 2024.
The Federal Government will start paying the new minimum wage from July 29, 2024, as outlined in the Memorandum of Understanding issued at the end of the committee’s meeting on September 20, 2024.
This move is expected to benefit millions of civil servants across the country.It’s worth noting that the National Minimum Wage Act 2024 aims to promote fair labor practices and improve the standard of living for Nigerian workers.
