President Muhammadu Buhari, on Thursday signed into law the Minimum Wage Repeal and Re-Enactment Act, 2019.
By this act, the new minimum wage is now N30,000.
The signing of the Act means all employers of labour across the country are to pay workers a minimum of N30,000 monthly wage except those that have less than 25 workers on their pay roll.
The National Assembly had submitted the minimum wage bill to the President on March 27.
The bill approving N30,000 as the new national minimum wage was passed by both chambers of National Assembly before they went on break for the 2019 general elections.
Earlier in the week, workers in the Federal Capital Territory had begged the President to sign the minimum wage bill.
Some of the workers had expressed concerns over the delay in signing the bill into law, adding that it was causing them unnecessary anxiety.
The Senior Special Assistant to the President on National Assembly matters(Senate), Senator Ita Enang, confirmed this development when he briefed journalists in Abuja.
President Buhari had, in January, sought the approval of N27,000 as against the N30,000 agreed upon by stakeholders.
However, the Senate and the House of Representatives approved the sum of N30,000 as the new national minimum wage.