Minimum wages are the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period.It is set by law or a government authority to ensure that workers receive a basic standard of living and to prevent exploitation.

The specific amount of the minimum wage can vary significantly between countries and regions, and it can also be adjusted periodically to account for factors such as inflation and changes in the cost of living.

Minimum wages exist in more than 90 per cent of theInternational Labour Organisation’s(ILO) member States, including Nigeria.

In January 2024, the Federal Government inaugurated a 37-member tripartite committee to review the National Minimum Wage.

However, yesterday, July 18, President Bola Tinubu approved a new minimum wage of N70,000 for Nigerian workers and pledged to review the national minimum wage law every three years.

Nigeria has reviewed its national minimum wage a total of four times after its initial establishment in 1981. The significant changes occurred in the following years:

The first national minimum wage in Nigeria was established at N125 per month in 1981 by Ex-President Shehu Shagari.

This introduction was influenced by the advocacy of the Nigerian Labour Congress, which sought improved worker welfare during that period.

In 2000, the minimum wage was increased during ex-President Olusegun Obasanjo, to N5,500.

In 2011, it was raised during ex-President Goodluck Jonathan’s regime from N7,500 to N18,000.

In 2019, the minimum wage was further increased during the regime of former president, Muhammadu Buhari, from N18,000 to N30,000 per month.

Most recently, in July 2024,President Bola Tinubuapproved a new minimum wage of N70,000 and promised to review the minimum wage law every three years moving forward. (The Nation)