FG Considers Increasing Minimum Wage to N200k

Emerging reports suggest that the Federal Government will likely raise the minimum wage in Nigeria to N200,000.

The reports also indicated that state governors reiterated they will not be able to fulfill the commitment in a situation reminiscent of when the minimum wage was raised to N30,000 some years ago.

A technical task force led by Anambra State Governor Charles Soludo was set up for the purpose.

The purpose of the group was to work out the details and solve the related problems.

As reported, the topic of salary increase was brought up and discussed in June at a meeting of the National Economic Council (NEC) chaired by Vice President Kashim Shettima.

At a meeting of the Commission on Salaries, Income, and Wages, NEC affirmed the government’s ability to pay the N200,000 minimum monthly wage.

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They highlighted potential savings from the removal of subsidies and the devaluation of the naira.

The committee suggested that savings from the policies could be distributed to states to pay the new wages.

However, state leaders and members of the National Economic Council, NEC have questioned their ability to deliver on the salary increase proposal.

President Bola Tinubu is said to be optimistic that the demands of Labor were achievable.

Tinubu cited his campaign promises to justify his commitment to higher wages.

Before assuming office on May 29, the President announced on May 1, Workers’ Day, that “In Nigeria, I shall have the honour and privilege to lead from May 29, workers will have more than a minimum wage. You will have a living wage to have a decent life and provide for your families.”