Federal government has shown sign to favour hiking the minimum wage to as much as N200k per month, as proposed by the country’s organised labour.
State governors, however, are recommending caution, and Anambra State governor Charles Soludo has been invited to lead a Technical Working Group (TWG) to address the challenges and their different dimensions.
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The subject was reviewed at the last month’s National Economic Council (NEC) meeting, when the Salaries, Incomes, and Wages Commission delivered a presentation on how the federal government might meet the demand for a N200,000 monthly minimum salary.
According to sources who spoke with Empowered Newswire, President Bola Ahmed Tinubu is particularly and personally convinced that the demand of organised labour is not unrealistic, citing his campaign promises as evidence of his ability to meet the task.
Recall that President Tinubu, as president-elect, stated on May 1st, “In Nigeria, I shall have the honour and privilege to lead from May 29, workers will have more than a minimum wage.”
“You will be able to live well and provide for your families because you will be paid a living wage.”
The Salaries & Wages Commission costed the financial ramifications of the proposed minimum wage rise at the NEC meeting, which the president inaugurated in June, and demonstrated how the federal government could pay it, with the recommendation that it was well within the federal government’s capacity.
However, during the meeting, the state governors who make up the NEC raised concerns about the proposal.
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Part of the assumption and anticipation is that with the new foreign exchange policy, the federal and state governments will have more funds to distribute under the FAAC monthly dividend.
According to reliable sources, there will be enough financial surplus to allow for a large increase in the minimum salary from N30,000 to N100,000 monthly.
