Australia govt announces new minimum wage as Nigerian govt delays on pay increase

Australia’s Fair Work Commission has announced a minimum wage increase to $915.90 per week while the Nigerian government foot-drag on wage rise for workers.

 

The Australian government said the minimum wage rise took effect on July 1, 2024.

 

This is a 3.75 percent rise in the National Minimum Wage, summing up a rise to $24.10 per hour.

 

Accordingly, Australia believes the minimum adjustment will bolster compensation amid economic shifts and inflation, benefiting both local workers and international work visa applicants.

 

For employers, meeting or exceeding these wage standards enhances their ability to attract and sponsor skilled overseas workers. This adjustment is particularly pivotal for occupations covered by Modern Awards, which dictate industry-specific minimum pay rates and conditions.

 

The last time the Australian government announced a minimum wage increase was in July 2023.

 

Meanwhile in Nigeria, the government and workers under the aegis of organized labour failed to agree on a minimum wage after the statutory five years expired in April 2024.

 

The Nigerian government agreed to pay N62,000 as a new minimum wage which is a 100 percent pay rise when compared to the current N30,000 minimum wage. However, Nigerian workers settled for a N250,000 new minimum wage proposal.

 

Consequently, President Bola Ahmed Tinubu stepped down the new minimum proposal by its tripartite committee to give room for further discussion.