Inspite of the agreement reached between Organised Labour and the Federal Government on a pay system, not all Nigerian workers will receive the new national minimum wage. A 10-member sub-committee of the tripartite committee stated that certain establishments are not required to pay the new minimum wage......Read The Full Article>>.....Read The Full Article>>
President Bola Tinubu recently approved a N70,000 minimum wage for Nigerian workers.
Businesses excluded from the mandatory payment of the new minimum wage include those classified as nano businesses (operated by 1-3 people with capital below N50,000) and micro enterprises with 10 or fewer employees or startups.
Additionally, companies that have been in existence for no more than three years, establishments with quarterly revenue less than N50 million or annual revenue under N200 million.
Also, industries regulated by other acts of the national assembly regarding staff remuneration and compensation, and any other business deemed reasonably justified by the minister of labour and employment or the executive chairman of the national salaries, incomes, and wages commission, may also qualify for exemption.
Minimum wage: List of exempted organisations below:
– Companies of not more than three years in existence.
– Establishments that have less than N200 million revenue per annum.
– Organisations with less than 10 staff. Industries which have their staff remuneration regulated by other acts of the national assembly.
– Startup businesses. Nano business (Business managed by 1-3 persons with capital below N50,000) and micro business enterprise.
Recall that Senate President, Godswill Akpabio said the minimum wage extends to all employers, including those in small-scale and informal sectors, such as employers of domestic workers or tailors.
Akpabio said: “If you’re a tailor and you employ additional hands, you can’t pay the person below N70,000. If you have a housemaid, you cannot pay them below N70,000. If you hire a driver or a gateman, you cannot pay them below N70,000.”
