President Bola Ahmed Tinubu is set to sign the new minimum wage bill into law after its accelerated passage by the National Assembly.

Both the Senate and House of Representatives swiftly passed the bill through three readings and voice votes during their plenaries on Tuesday.

The Executive Bill, which prescribes a N70,000 minimum wage and a three-yearly review, was presented by President Tinubu and read on the floors of both chambers by the presiding officers.

The bill gives legal backing to the agreed-upon minimum wage between organized labour, the private sector, and the government.

A key provision of the bill reduces the interval for reviewing the minimum wage from five years to three years, as promised by President Tinubu during his meeting with labour leaders. The President had urged lawmakers to expedite the bill’s passage.

Majority Leaders Opeyemi Bamidele and Julius Ihonvbere moved motions to suspend relevant rules, allowing for the bill’s consideration for second and third reading. The motions were unanimously carried by voice vote.

Senator Bamidele led the debate on the bill’s general principles, urging colleagues to support its passage. Senator Mohammed Tahir Monguno seconded the motion, praising the provision reducing the review interval from five to three years. No Senator opposed the bill during its consideration.

The Senators unanimously approved the bill for third reading and passage when put to a voice vote by Senate President Godswill Akpabio.

A clean copy of the bill will now be sent to President Tinubu for assent.