The recent agreement on the national minimum wage in Nigeria includes exemptions for certain categories of businesses and industries. President Bola Tinubu has approved a N70,000 minimum wage for Nigerian workers, but not all workers will benefit from this increase.

According to a 10-member sub-committee of the tripartite committee, businesses excluded from mandatory payment of the new minimum wage include:

Nano Businesses: These are operated by 1-3 people with capital below N50,000.
Micro Enterprises: Defined as businesses with 10 or fewer employees or startups.
Young Businesses: Companies that have been in existence for no more than three years.
Small Revenue Businesses: Establishments with quarterly revenue less than N50 million or annual revenue under N200 million.
Industries Regulated by Other Acts: Businesses regulated by other acts of the national assembly regarding staff remuneration and compensation.
Other Reasonably Justified Cases: 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.
These exemptions are intended to balance the implementation of the new minimum wage while considering the financial capabilities and specific circumstances of different businesses and industries in Nigeria.