"We are not only doubling the minimum wage, we have added something on top."
President Bola Tinubu has signed the new minimum wage bill into law.
The new law provides a national minimum wage of N70,000 for both the public and private sectors.
Mr Tinubu signed the bill on Monday at the State House in Abuja in the presence of Senate President Godswill Akpabio and other National Assembly leaders.
The senate president said he is excited about the new minimum wage because the provision is mandated in the government and private sectors.
Mr Akpabio commended President Tinubu for increasing the minimum wage.
"We are not only doubling the minimum wage, we have added something on top. Initially, it was N30,000, now it is N70,000," an excited Mr Akpabio told journalists after the signing.
"I'm ecstatic. I'm excited about the Nigerian worker, and the national minimum wage amendment is for the whole nation, for the federal government, the states, the local governments, the private sector, and even for individual employers.
"Like I said, this is minimum, this is not maximum. Any employer that has a capacity can pay as much as you want. But no Nigerian worker will offer services and be paid anything less than 70,000 from today. That is the implication of this act. It applies all over the nation. And we are excited that this is happening at a time like this through President Bola Ahmed Tinubu, a man who cares for the Nigerian workers. And you've seen what we are doing in the National Assembly," he said.
Mr Akpabio noted that all the federal lawmakers supported the bill and had to pass it in one day.
"When it came, the entirety of the National Assembly moved and passed the bill one day out of excitement. We felt that this was not something we could delay. So, I think the workers are happy.
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Tinubu cares for Nigerians
The Speaker of the House of Representatives, Abbas Tajudeen, also witnessed the bill's signing.
Mr Tajudeen, who the House Leader, Julius Ihonvbere, represented, said the bill's signing indicated that President Tinubu loves and cares for Nigerians.
"This is an action from the President to show that he cares about the Nigerian people.
"In addition to signing the North-east Development Commission, the North West Development Commission and the South-east Development Commission, this has never happened in Nigeria.
"So I think this movement from N30,000 to N70,000 and reducing the negotiation [from five to three] years is a clear demonstration of a commitment to redirect, refocus and reposition Nigeria for greatness."
