Labour happy as Tinubu signs N70,000 minimum wage bill
We have gone very far with it. And I expect that it will be signed by Wednesday,” Akpabio responded when asked about the reviewed Act meant to finance the new minimum wage.
On July 15, the Federal Executive Council mandated the Minister of Budget and Economic Planning to prepare a bill to amend the 2024 Budget.
A week later, Tinubu wrote the Senate requesting it to amend the 2024 Appropriation Act and the 2023 Finance Act by increasing the budget by ₦6.2tn.
Tinubu’s letter was addressed to the Senate President and read at plenary.
The President said the move was under Section 58 (2) of the Constitution.
The Senate approved the ₦6.2tn amendment to the 2024 Appropriation Act, raising the year’s national budget from ₦28.7tn to ₦35.055tn.
Meanwhile, the Federal Government allayed fears of non-compliance with the new minimum wage, saying the extensive negotiations and consensus-building undertaken from early February to July meant all the relevant stakeholders were involved.

