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    Wednesday, January 31, 2018

    Why 2018 Budget Can't Accommodate New Minimum Wage - DG Budget Office

    Director General, Budget Office of the Federation, Mr. Ben Akabueze, has stated that the 2018 budget, at present, cannot accommodate the minimum wage as proposed by the Nigeria Labour Congress...


    He said the Federal Government might go for supplementary budget to implement the new minimum wage if approved by the law.

    Akabueze disclosed this at the Media and CSOs Dialogue on the 2018 budget on Wednesday in Abuja.


    “When an agreement is reached, the financial implication would be quantified and if need be, there would be a supplementary budget.


    “The only provision that exists is what we call public service wage adjustment, but that is barely over N40bn provided on that line, and that may not be enough to cater for any adjustments that may be necessary,’’ he said.


    President Muhammadu Buhari, in November 2017, inaugurated a 30-man Tripartite National Minimum Wage Committee, calling on the members to come up with a fair and decent wage for Nigerian workers.


    Giving updates on the development, Akabueze said, “We all know that the last minimum wage instrument has expired.


    “It is in recognition of the need to ensure a fair and decent living wage that the Federal Government put in motion necessary mechanisms so that we can, today, inaugurate this large committee with a big task ahead of you.


    “You are all aware that during the period following the increase in petrol pump price in May 2016, a technical committee was established to examine and make recommendations to government.’’

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    Item Reviewed: Why 2018 Budget Can't Accommodate New Minimum Wage - DG Budget Office Rating: 5 Reviewed By: Olaniyan Tosin
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