The Senate on Tuesday approved N30,000 monthly as the new National Minimum Wage in Nigeria, even as it called for urgent review of the revenue sharing formula to enhance states’ capability to pay.
The amount is N3,000 higher than the N27,000 which President Muhammadu Buhari presented to the National Assembly in the executive bill in January this year.
The bill passed by Senate on Tuesday increased the fines for companies that fail to keep records of their employees from N5,000 to N75,000.
Also, the Senate called on the Ministries of Finance as well as Budget and National Planning to immediately forward to the National Assembly for inclusion in the 2019 budget the actual amount required for the new National Minimum Wage.
This followed the presentation and consideration of the report of the Senate Adhoc Committee on the National Minimum Wage at Tuesday plenary.
Details later….
