• I’m committed to giving Nigeria new minimum wage soon – Buhari
  • Tripartite panel recommended N30,000 – Pepple

    Adelani Adepegba, Olalekan Adetayo, Eniola Akinkuotu, Leke Baiyewu and Olaleye Aluko
    President Muhammadu Buhari on Tuesday said he was committed to ensuring that the nation’s workers get a new minimum wage as soon as possible.
    Buhari made the promise at the Presidential Villa, Abuja, shortly after receiving the report of the Tripartite Committee on New Minimum Wage from the Chairman, Amal Pepple.This happened just as the presidential candidate of the Peoples Democratic Party, Atiku Abubakar, said he welcomed the news that government had accepted to pay the new minimum wage recommended by the committee.
    The panel recommended N30,000 as the new minimum wage for the country.
    The President promised to immediately put in place the necessary machinery that would address what he called open areas in the report.  He said his plan was to transmit an Executive Bill to the National Assembly for passage within the shortest possible time.
     He said, “The committee chairman highlighted some of the challenges encountered during your deliberations, especially as it relates to having a consensus position acceptable by all parties.
    “I understand, on the government side, the concerns raised were around affordability – that today many states struggle to meet their existing salary requirements. On the side of labour, the points raised focused on the need for any increase to be meaningful. 
    “In a way, both arguments are valid. I want to assure you all that we will immediately put in place the necessary machinery that will close out these open areas.”
    He added, “Our plan is to transmit the Executive Bill to the National Assembly for passage within the shortest possible time.
    “I am fully committed to having a new National Minimum Wage Act in the very near future.” Buhari said the government would continue to engage members of the committee as it commenced a review of the report.
    He however warned workers against being used as political weapons.
    “As the executive arm commences its review of your submission, we will continue to engage you all in closing any open areas presented in this report. “I therefore would like to ask for your patience and understanding in the coming weeks.
    “May I therefore, implore workers and their leaders not to allow themselves to be used as political weapons,” the President said.
    Buhari said the need for a review of the minimum wage became necessary because the last review was done in 2011 and since then, prices of key consumables had increased while the most vulnerable workers were struggling to make ends meet. He said the successes recorded by the country since 2011 did not benefit the majority of Nigerians.
     While presenting the report to the President, Pepple said the committee recommended N30,000 as the new minimum wage and produced a draft bill to be sent to the National Assembly on the matter.
    In arriving at the figure, she said the committee weighed the demands of the workers which was predicated on the high cost of living occasioned by unfavourable exchange rate and rising inflation over the past few years, among other factors. She said the committee also considered the overall macro-economic indicators, including the revenue and expenditure profile of government as provided by the Ministers of Budget and National Planning and Finance as well as the minimum wage proposed by some state governments in their memoranda submitted to the committee.
    She added, “Consideration was also given to the critical role of the informal sector in employment generation and the need for a realistic minimum wage that will not stifle the growth of the sector and the overall economy.“After carefully weighing these critical factors and bearing in mind the overriding interest of the economy, the committee while noting the offer of N24,000 by the Federal Government, is recommending an increase in the existing minimum wage from N18,000 to N30,000.
    “We believe the implementation of the recommended minimum wage will, no doubt, boost the purchasing power of workers, increase consumption expenditure and ultimately stimulate business and overall economic growth.”

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