Things to know about minimum wage in Nigeria

Here are key things to know about minimum wage in Nigeria:

Current Minimum Wage

- As of 2022, the minimum wage in Nigeria is ₦30,000 (approximately $75 USD) per month.

History of Minimum Wage in Nigeria

- 1981: ₦125 (approximately $0.31 USD)

- 1990: ₦250 (approximately $0.62 USD)

- 2000: ₦5,500 (approximately $14 USD)

- 2011: ₦18,000 (approximately $45 USD)

- 2019: ₦30,000 (approximately $75 USD)

Minimum Wage Laws

- The National Minimum Wage Act (2019) sets the minimum wage for all employees in Nigeria.

- The Act applies to all employers, including federal, state, and local governments, as well as private sector organizations.

Exceptions

- Employees in the informal sector, such as artisans, traders, and farmers, are not covered by the minimum wage law.

- Small businesses with fewer than 50 employees may be exempt from paying the minimum wage.

Challenges

- Inflation: The minimum wage has not kept pace with inflation, reducing its purchasing power.

- Non-compliance: Some employers, especially in the private sector, do not comply with the minimum wage law.

- Poverty: Despite the minimum wage, many Nigerians still live below the poverty line.

Impact on Workers

- Improved standard of living for minimum wage earners.

- Increased consumer spending power.

- Reduced poverty and inequality.

State-Specific Minimum Wages

- Some states, like Lagos, have implemented higher minimum wages (₦35,000 - approximately $87 USD).

Future Plans

- The Nigerian government has proposed a review of the minimum wage every five years to keep pace with inflation.

Note: These figures are subject to change, and this information may not reflect the current situation. For the most up-to-date information, consult the Nigerian government's official websites or reputable news sources.

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