National Minimum Wage In Nigeria The revised salary structure begins with GL 01 where entry level workers will earn an annual salary of 930 000 while those at the highest grade level GL 17 will receive up to 6 918 560 annually Here is a summary of the new salary structure with both annual and monthly breakdowns
However yesterday July 18 President Bola Tinubu approved a new minimum wage of N70 000 for Nigerian workers and pledged to review the national minimum wage law every three years INTRODUCTION 1 1 As part of its measures to curb the adverse effects of economic degradation and mitigate the inflation induced hardship in the country the Federal Government of Nigeria in conjunction with the organised labour union approved a new national minimum wage of N70 000 monthly remuneration on the 18th of July 2024 following the strike
National Minimum Wage In Nigeria
National Minimum Wage In Nigeria
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Minimum Wage In Nigeria 2024 Edin Sascha
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National Wage April 2024 Gwyn Francine
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National minimum wage from ve years to three years and for related matters Commencement ENACTED by the National Assembly of the Federal Republic of Nigeria 1 The National Minimum Wage Act 2019 in this Bill referred to as the Principal Act is amended as set out in this Bill Amendment of the National Minimum Wage Act 201 9 In January 2019 the National Council of State approved the sum of N 27 000 00 as the minimum wage but the governor s counteroffered the sum of N 22 500 00
2 What is the New Minimum Wage Rate The National Minimum Wage Act 2019 which was the previous law governing remuneration of workers in Nigeria had set the national minimum wage at 30 000 Thirty Thousand Naira The Amendment Act has now increased the minimum wage rate to 70 000 Seventy Thousand Naira This represents a 12 9 increase The Minister of Information Mohammed Idris says the Federal Government and the leadership of the Organised Labour have agreed on 70 000 as the new minimum wage for Nigerian workers
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As of July 2024 Nigeria s minimum wage is NGN 70 000 per month for all eligible employees This is equivalent to GBP 33 02 USD 43 19 The National Minimum Wage Act mandates that the minimum wage be reviewed every three years to keep up with economic conditions such as inflation cost of living and the overall economic environment in Nigeria The President of the Federal Republic of Nigeria on 29 th July 2024 signed the National Minimum Wage Amendment Bill 2024 into law This 2024 amendment aims to improve the living standards of workers by adjusting wage structures and intervals for their review The 2024 amendment modifies the previous National Minimum Wage Act No 8 of
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The revised salary structure begins with GL 01 where entry level workers will earn an annual salary of 930 000 while those at the highest grade level GL 17 will receive up to 6 918 560 annually Here is a summary of the new salary structure with both annual and monthly breakdowns
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However yesterday July 18 President Bola Tinubu approved a new minimum wage of N70 000 for Nigerian workers and pledged to review the national minimum wage law every three years
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