Economy

Minimum wage: FG Inaugurates Committee to Negotiate Salary Adjustment

  • Minimum wage: FG Inaugurates Committee to Negotiate Salary Adjustment

The Federal Government on Tuesday inaugurated the committee to negotiate the consequential adjustment in salaries arising from the new National Minimum Wage with the Head of the Civil Service of the Federation, Winifred Oyo-Ita appointed as chairman.

Among the government delegations who were present at the event were the Minister of Health, Prof Isaac Adewole and the Minister of Labour and Employment, Dr Chris Ngige. Labour leaders were also present at the venue of the inauguration.

While inaugurating the committee, Secretary to the Government of the Federation, Boss Mustapha, who is an alternate chairman of the committee, said the committee had four weeks to complete its assignment with the inaugural meeting scheduled to hold on May 20, 2019.

He said, “Let me begin by conveying, the goodwill message of President Muhammadu Buhari , who has, from his first day in office in 2015, expressed deep interest in the welfare of workers and believes that if the government is to succeed in its fight against corruption, the Nigerian workers must be adequately remunerated.

“It is in fulfilment of Mr. President’s commitment to issues concerning the welfare of Nigerian workers that he inaugurated the Tripartite Committee on National Minimum Wage on November 27, 2017.

“The Tripartite Committee no doubt was painstaking in its assignment. Members met with various stakeholders and interest groups, visited every part of the country, holistically considered the state of the economy and finally came up with its recommendation of N30,000 as the new National Minimum Wage.

To further demonstrate Mr. President’s unwavering commitments to the welfare of all Nigerian workers, he signed into law, the new National Minimum Wage bill.”

Mustapha said that members of the committee were painstakingly picked by the government.

Other members are ministers of Labour and Employment, Finance, Budget and National Planning, Health, Education and Attorney General of the Federation and Minister of Justice.

The committee also has as members Director General, Budget Office of the Federation, Secretary, Federal Judicial Service Commission, Secretary, National Assembly Service Commission and Chairman of the National Salaries, Incomes and Wages Commission, who will also serve as secretary.

Samed Olukoya

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.

Share
Published by
Samed Olukoya

Recent Posts

Crude Prices Decline After Trump’s Reversal of Colombian Sanctions

Oil prices declined on Monday after President Donald Trump reversed the sanctions expected to be…

5 hours ago

Dollar to Naira Black Market Exchange Rate Today, 27th January 2025

As of today, Monday, 27th January 2025, the dollar to naira exchange rate in the…

8 hours ago

Market Rebounds Strongly with N794 Billion Growth, ASI Rises by 1.2%

The Nigerian capital market recovered last week as investors pocketed N794 billion amid growing global…

11 hours ago

Against all Odds, FirstBank Eyes Another Decade of Growth

In the first nine months of last year, the earnings per share (EPS) of FBNHoldings…

12 hours ago

Zenith Bank Surpasses Expectations, Raises N350.4 Billion in Landmark Hybrid Offer

Zenith Bank Plc has raised a total of N350.4 billion through its recently concluded hybrid…

12 hours ago

Tier-One Banks Surpass Capital Targets, Smaller Lenders Struggle With IPO Costs

With the March 2026 recapitalisation deadline approaching, Nigeria’s banking sector is experiencing a marked divide…

13 hours ago