N70,000 Minimum Wage inclusive of Private sector employees And domestic workers – senate

The Senate has approved a new minimum wage of N70,000, which will be applicable to all employees in both the public and private sectors, including domestic workers such as maids, nannies, and other household staff. The legislation was transmitted to the National Assembly by President Bola Tinubu and was swiftly endorsed by both the Senate and House of Representatives.

According to Senate President Godswill Akpabio, the new wage will not only benefit formal employees but also those in the informal sector. “This is not a maximum wage, it’s a benchmark for all employers of labour to follow,” he said during a plenary session. “Whether you’re a tailor employing additional hands or a mother hiring a housemaid, you cannot pay them below N70,000.”

The approved minimum wage supersedes the 2019 National Minimum Wage Act, which established a minimum wage of N30,000 and allowed for a five-year negotiation period for future wage increases. The new legislation has reduced the review period for future wage adjustments to three years.

The Majority Leader of the Senate, Opeyemi Bamidele, revealed that the N70,000 minimum wage was a consensus reached by all stakeholders following extensive negotiations. The bill is seen as a short-term measure to mitigate the country’s economic challenges.

With the new legislation, all employers of labour are expected to pay their employees at least N70,000 per month. The Senate President has adjourned plenary to September 17, pending further deliberations on the bill.