MINIMUM WAGE: FG IN DILEMMA OVER INADEQUATE BUDGETARY ALLOCATION
Written by thereachfm on March 19, 2019
Reports say the Federal Government appears to be in a dilemma on how to source funds to pay the new N30,000 minimum wage to workers.
So far, between N200 billion and N300 billion is required annually to handle the payment of the new N30,000 minimum wage but the Federal Government budget of about N150 billion is said to be grossly inadequate to take care of the workers’ new salary structure.
Though the Federal Government has indicated its willingness to pay, having assured workers, the calculation by appropriate ministries shows that the government requires about N300 billion annually to cover all agencies of government.