The Federal Government has announced that the new minimum wage will be implemented starting from July 29, 2024. This decision was finalized by the Committee on Consequential Adjustments in Salaries for Civil Servants, as outlined in a Memorandum of Understanding (MoU) obtained by our correspondent in Abuja on Friday.
According to the MoU, “The National Salaries, Incomes and Wages Commission (NSIWC) will generate the appropriate salary templates for other consolidated salary structures. The effective date for the implementation shall be July 29, 2024.”
The committee, consisting of 16 members, was established to oversee the execution of the National Minimum Wage Act of 2024, which increased the national minimum wage from ₦30,000 to ₦70,000. The committee’s mandate includes negotiating and determining the necessary salary adjustments across various sectors, as well as developing a template for the smooth implementation of the revised wage structure.
