Federal Government approves new minimum wage starting April 2024

The Federal Government has officially confirmed that a new minimum wage structure will come into effect on April 1, 2024. Idris Mohammed, the Minister of Information and National Orientation, made this announcement during an interview in Abuja, highlighting that the existing N30,000 minimum wage is set to expire at the end of March 2024.

As part of the fiscal plans outlined in the 2024-2026 budget framework, the Federal Government has allocated N24.66 trillion for salaries over the three-year period spanning 2024, 2025, and 2026.

Following President Bola Tinubu’s removal of the fuel subsidy on May 29, 2023, the Federal Government had initiated a compensatory measure by providing N35,000 to each of its workers. This move aimed to alleviate the impact of the subsidy removal. However, organized labor emphasized that the N35,000 salary adjustment was a temporary solution, emphasizing the need for a reconsideration of the minimum wage in 2024.

After extensive negotiations, a consensus was reached between the Federal Government’s team and the Joint National Public Service Negotiating Council on the implementation of the N30,000 minimum wage on October 18, 2019.

In adherence to the country’s labor legislation, which mandates a review of the minimum wage every five years, trade unions have initiated fresh negotiations with the Federal Government to address the upcoming changes.