New Minimum Wage Takes Effect, Presidency Confirms Date and Promises Back Payments
In a move aimed at boosting the welfare of Nigerian workers, the presidency has confirmed the effective date of the new minimum wage and promised back payments to eligible workers.
According to a statement from the presidency, the new minimum wage of N30,000 will be increased to N70,000, and will be paid to all federal civil servants. The presidency also assured that back payments will be made to workers who are entitled to the new wage, dating back to May 2024.
This development is a significant milestone in the efforts of the federal government to improve the living standards of Nigerian workers. The new minimum wage was agreed upon after months of negotiations between the government and labor unions.
The implementation of the new minimum wage is expected to have a positive impact on the economy, as it will increase consumer spending and boost economic activity. The presidency has also assured that the new wage will be reviewed regularly to ensure that it keeps pace with inflation and the cost of living.
Some key highlights of the new minimum wage include:
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– The new minimum wage has been increased from N30,000 per month to N70,000.
– Back payments will be made to eligible workers dating back to May 2024
– The new wage applies to all federal civil servants
– The presidency has assured that the new wage will be reviewed regularly
The implementation of the new minimum wage is a welcome development for Nigerian workers, who have been advocating for an increase in the minimum wage for several years.
