House Representatives Member, Akin Alabi, has said not all businesses would be mandated to pay ₦70,000 minimum wage to their staff when assented by President Bola Tinubu.
The Chairman, House Committee on Works, Akin Alabi, said businesses with less than 25 employees would be exempted from paying the ₦70,000 minimum wage.
In a statement on Tuesday, on his X handle, the member representing Egbeda/Ona-Ara Federal Constituency of Oyo State, said businesses that have part-time staff and workers on commission would not be mandated to pay the minimum wage.
Alabi said, “Today (Tuesday), we amended Section 3 of the National Minimum Wage Act. Section 3 (1) was amended from ₦30,000 to ₦70,000. Section 3 (1) amended the period of review from 5 years to 3 years.
“Here are some points of note from the National Minimum Wage Act: The minimum wage as the name says is the minimum amount an employer of labor is required to pay the lowest worker. For example, in the civil service, ₦70,000 is for Level 1, Step 1.
“It is not binding on staff working part-time or on commission basis. It is not binding on establishments with less than 25 employees.”
Meanwhile, the Federal Capital Territory Senator, Ireti Kingibe, has said the new minimum wage would help to address hardship in the country.
Senator Ireti, who seconded motion to adopt and approve votes on the new minimum wage bill in the Senate, said the new wage would address the welfare and livelihoods of millions of Nigerians who are struggling to make ends meet.
She added that while the minimum wage may not solve all the citizens problems, it was a significant way of addressing them.
“A key aspect of these decisions is the recommendation to increase the minimum wage. This motion is crucial as it aims to address the welfare and livelihoods of millions of Nigerians who are struggling to make ends meet due to the current economic realities.
“While the proposed increase in the minimum wage may not solve all our problems, it is a significant step towards alleviating poverty, reducing income inequality, and boosting economic growth,” Senator Ireti told other senators on Tuesday.
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