Exciting News for Nigerian Workers: Minimum Wage increment coming Soon!
Saturday 9 December 2023
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Great news for Nigerian workers! A revised minimum wage is set to be implemented soon, bringing positive changes to the financial landscape. Idris Mohammed, the Minister of Information and National Orientation, shared this update in Abuja, mentioning that the current minimum wage of N30,000 will conclude shortly.
This development follows the removal of the fuel subsidy on May 29, 2023, when President Bola Tinubu announced a temporary measure – a one-time payment of N35,000 to ease the impact on workers. However, the Nigeria Labour Congress National President, Joe Ajaero, clarified that this was a short-term solution, with a comprehensive minimum wage review expected in the near future. CONTINUE READING.....
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Minister Mohammed emphasized that ongoing negotiations with Labour involve the creation of a committee to address wage issues. He stated, "By the time this current wage regime expires, we expect that a new wage will begin shortly. It is in this wage regime that we will now have a proper salary structure for workers across Nigeria. We expect that the private sector and state governors will also follow suit."
Additionally, the 2024–2026 Fiscal Framework analysis reveals that the Federal Government aims to allocate 29.18% of its overall budgets for the years 2024, 2025, and 2026 to cover expenditures related to salaries, overheads, and pensions. CONTINUE READING.....
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