Federal Government to Backdate Payment of New ₦70,000 Minimum Wage to July 29

• The federal government plans to backdate the newly approved minimum wage of ₦70,000 to July 29, 2024, following committee decisions
• A Memorandum of Understanding outlines that the National Salaries Income and Wages Commission will generate salary templates for implementation

The federal government has announced plans to backdate the payment of the newly approved minimum wage of ₦70,000 to July 29, 2024.

The Committee on Consequential Adjustments in Salaries for Civil Servants reached this decision and agreed on the implementation timeline. According to a report by Punch, the details were outlined in a Memorandum of Understanding (MoU) seen by a correspondent in Abuja on Friday.

The MoU states, “The NSIWC will generate the appropriate salary templates for implementation for other consolidated salary structures. The effective date of the implementation shall be July 29, 2024.”

The 16-member committee, created to enforce the National Minimum Wage Act of 2024, is responsible for negotiating salary adjustments and developing a comprehensive template for the new wage rollout. As part of these efforts, the national minimum wage was increased from ₦30,000 to ₦70,000.