News

FG Raises NYSC Allowance to N33,000

  • FG Raises NYSC Allowance to N33,000

The Federal Government has finally raised monthly allowance of the nation’s serving corps members from N19,800 to N33,000.

According to the Director-General, the National Youth Service Corps, Brigadier General Shuaibu Ibrahim, corps members’ monthly allowance has been increased in accordance with the new minimum wage to N33,000.

Ibrahim stated that “contrary to the various amounts being circulated on the social media, the sum of N33,000 had been approved as the new rate.”

The Director-General had said in September that the monthly allowance of the corps members would be increased “immediately the federal government starts the payment of the new minimum wage”.

“Your monthly allowance would be increased immediately the Federal Government starts the payment of the new minimum wage to all public servants nationwide,” Ibrahim disclosed this during an address delivered at the NYSC orientation camp in Iyana-Ipaja, Lagos.

He added that the payment of the new allowance will commence immediately funds are received from appropriate authorities as stated in the 2020 budget.

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

Discordant Tunes Greet 50% Tariff Hike As Subscribers Threaten To Sue NCC

Nigerians have expressed displeasure over the decision of the Nigerian Communications Commission to increase tariffs…

13 hours ago

Beatrice Ekweremadu Returns to Nigeria After Serving Sentence in UK

Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President Senator Ike Ekweremadu, has reportedly returned…

13 hours ago

Nigeria Expands Refining Capacity with MRO Energy’s Delta State Refinery

The Federal Government has taken another step toward boosting Nigeria’s refining capacity with the approval…

14 hours ago

Eko DisCo Set for Transformation as Transgrid Enerco Signs Historic 60% Acquisition Agreement

Transgrid Enerco Limited has signed a Share Purchase Agreement (SPA) to acquire a 60% equity…

14 hours ago

Metering Gap Exceeds 7 Million Despite Multilateral Loans and Government Funds

Despite interventions by the Federal Government and multilateral lenders amounting to over N1.5 trillion, Nigeria’s…

15 hours ago

Petrol Prices Surge to N990 in Abuja, N960 in Lagos as Oil Tops $80 Per Barrel

The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol at…

16 hours ago