President Muhammadu Buhari has today, 18th April, 2019, signed the Minimum Wage Repeal and Re-Enactment Act, 2019 into law.
The development was announced on Twitter by a social media aide of the president, Bashir Ahmed.
In essence, it is now legally binding on all employees across the nation to pay their workers a minimum of N30,000 monthly.
UPDATE: President @MBuhari has assented to the New National Minimum Wage bill.
The minimum wage is now N30,000 from N18,000.
The implementation starts immediately.
The new law affects all workers in the country. pic.twitter.com/cNoQPcJPh4
— Bashir Ahmad (@BashirAhmaad) April 18, 2019
The bill, which was assented to in Abuja by the president, had been forwarded to the Executive by the National Assembly on the 27th of March, 2019.
It had been passed by the Nigerian Senate and the House of Representatives before the February/March 2019 general elections.
The new minimum wage of N30,000 represents a 66% increase on the previous minimum wage of N18,000.