FG raises NYSC Monthly Allowance to N30,000

NYSCA CROSS SECTION OF NYSC 2012 BATCH 'B' CORPS MEMBERS DURING THEIR SWEARING-IN IN JOS
  • FG raises NYSC Monthly Allowance to N30,000

The Nigerian Government has finally raised the monthly allowance of the National Youth Service Corps (NYSC) members to 30,000.

The Minister of Finance, Mrs. Zainab Ahmed, stated in Abuja on Thursday during a press conference.

She, however, said the government is still working on necessary modalities before the official implementation of the new allowance.

According to her, since the national minimum wage has been increased to N30,000, it is normal to raise monthly allowance of the members of the NYSC as stipulated in the NYSC Act.

“Apart from the increase of the minimum wage from N18, 000 to N30, 000, there is also a consequential adjustment that we have to negotiate with the labour unions,” she stated.

“The total implication of that would be worked out only after the negotiations and that would involve determining how much increase every other employee above the minimum wage would get.

“It could be a flat amount or a proportion, but the other aspect that is clear is that there would be an increase for the National Youth Service Corps as well because, by the Act, they should earn at least the minimum wage and the NYSC also has to increase to that N30, 000.”

Meanwhile, the minister said the Federal Government will commence the disbursement of the remaining part of the Paris Fund soon.

 

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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