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Minimum Wage: National Council of State Approves N27,000

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  • Minimum Wage: National Council of State Approves N27,000

The National Council of State has approved N27,000 as the new national minimum wage, Dr Chris Ngige, the Minister of Labour and Employment, disclosed on Tuesday.

Dr Ngige, who briefed State House on the outcome of the Council’s meeting, said the bill of the new national minimum wage would be forward to the National Assembly by Wednesday for passage into law.

According to the minister, the N27,000 is the benchmark for all employers with more than 25 employees, explaining that no employer with more than 25 workers should pay less than the N27,000.

The minister, however, said the Federal Government had agreed to pay N30,000 as the new national minimum wage, while the State Governments would be allowed to negotiate with their respective staff.

The organised labour had insisted on a N30,000 minimum wage agreed by the tripartite committee in October, while the Nigeria Governors Forum (NGF) proposed N22,500, citing limited resources.

Again, the Nigeria Labour Congress (NLC) has rejected the N27,000 approved by the state council, according to Dr Peter Ozo-Eson, the NLC General Secretary, who briefed News Agency of Nigeria on Tuesday in Abuja.

“It is abysmal of government to be delaying the submission of an Executive Bill to the National Assembly and by wrongfully adopting N27,000 through the council of states,” he said.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Kellyrae Wins Big Brother Naija Season 9, Wanni comes 1st Runner-up

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Kingsley Sule, nicknamed Kellyrae has won the Big Brother Naija competition titled No Loose Guard.

After the 70-day competition involving 28 housemates, the show’s host, Ebuka Obi-Uchendu announced the Delta State indigene, Kellyrae as the winner of the show on the 71st day, Sunday, October 6, 2024.

Kelly’s successful sojourn won him a N60 million cash prize, an SUV, and other rewards, all amounting to 100m.

Including Kellyrae, seven other housemates Wanni, Victoria, Onyeka, Ozee, Sooj, Nelly, and Anita made it to the grand finale.

Furthermore, Wanni, one of the Mbadwe twin housemates was declared 1st runner-up, and Onyeka was the 2nd runner-up.

The grand finale was a star-studded affair, featuring performances from popular artists like Joeboy, and Qing Madi to add glamour and entertain the housemates as the show ended.

Season 9 titled No Loose Guard ended after so much competition among the housemates and fans disagreeing on who to win. The season was filled with unexpected twists, emotional moments, and unforgettable memories among the housemates.

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EFCC Warns Oil Firms Against Ignoring NEITI Audit, Vows Full Investigation

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The Economic and Financial Crimes Commission (EFCC) has issued a warning to oil and gas companies to desist from ignoring this year’s Nigerian Extractive Industries Transparency Initiative (NEITI) Industry Audit process.

This warning was issued by the EFCC chairman, Olanipekun Olukoyede, in a statement shared by the NEITI Communications & Stakeholders’ Management Assistant Director, Chris Ochonu.

While presenting the 2022-2023 NEITI oil and gas financial audit reports in Abuja, the EFCC boss emphasized that the agency will launch a full-scale investigation after the audit process.

Olukoyede noted that oil firms who ignore the NEITI audit would be making a costly mistake as necessary disciplinary action would be taken against them.

According to the EFCC, the 2022-2023 audit report on the Oil and Gas sector is with the Commission.

Furthermore, Olukoyede announced that the commission remitted ₦1 billion naira to the beneficiary agency of the government following the findings of the NEITI Report.

After the assessment of the 2022-2023 oil and gas report, Olukoyede commended NEITI for its credible data and reaffirmed the agency’s support for the initiative.

Speaking on behalf of the NEITI National Stakeholders Working Group (NSWG), Dr Erisa Danladi, called for the participation of civil society and the media.

Danladi urged them to use the information and data in the 2022 and 2023 audit reports as tools for engagements and investigation.

On his part, the Executive Secretary of NEITI, Dr. Orji Ogbonnaya conveyed NEITI’s thanks to the Federal Government for its continued support, particularly through the non-interference policy of President Bola Tinubu.

He announced the launch of a Data Center by the NEITI which will allow easy access to information and data on the nation’s extractive sector by stakeholders, especially civil society, the media, extractive industry companies, government agencies, and the legislature.

He revealed that the data would be stored in aggregated and disaggregated formats on the Data Centre which he described as a warehouse for all extractive industry data.

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NYSC Gives Fresh Update on ₦77,000 Monthly Allowance for Corps Members

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The Director General of the National Youth Service Corps (NYSC), Brigadier General Yushau Ahmed, has shared an update on the recent increase in corps members’ monthly allowance.

Investors King reported that the Di rector General of the NYSC through the Acting Director of Information and Public Relations of the NYSC, Caroline Embu, on September 25, announced the government’s decision to increase the corps members’ allowance.

The NYSC revealed that the monthly allowance of corps members was increased to ₦77,000 after the recent increase in the national minimum wage.

According to the NYSC, the new wage, which represents a 133.33 percent increase from the ₦33,000 previous monthly allowance is expected to take effect from July 2024.

This report left corps members with high hopes and excitement.

However, their excitement was short-lived as their September allowance failed to reflect the new amount.

In an interview monitored by this platform, Brigadier General Ahmed explained why the corps members are yet to receive the new allowance.

He said, “Not only the corps members, even our staff members’ salary has been increased about four to five months ago, but it has not been implemented yet. But we are hopeful that the new pay will be implemented soon, but the funds have not been released to us yet.

“The information we have did not specify when the new allowance will be paid, but we were assured that their monthly allowance has been increased from 29th July 2024.”

Ahmed assured corps members that the NYSC is actively engaging with the relevant authorities to ensure the speedy implementation of the new allowance.

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