The Federal Government has announced plans to prepare a supplementary budget for the 2024 fiscal year to support the implementation of a new minimum wage for workers.
This was revealed by the Minister of Information and National Orientation, Mohammed Idris, after the Federal Executive Council (FEC) meeting on Monday.
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According to Idris, the government has directed the Ministry of Budget and National Planning to develop additional financial support for the 2024 budget to bridge any gap between the previously approved budget and the requirements of the proposed new minimum wage.
He stated, “Government has also directed the Ministry of Budget to also come up with additional support for the 2024 budget, so that any differential or any gap that will exist in terms of what existed before 2024 budget was approved, a supplementary budget and also what the requirement is for now.”
The move is part of ongoing efforts to address the concerns of Organised Labour and establish a fair wage structure for all Nigerians.
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President Bola Tinubu is scheduled to meet with the NLC, Trade Union Congress (TUC), and their affiliates on Thursday to finalize the new minimum wage proposal before it is submitted to the National Assembly for legislation.
Idris emphasized the government’s determination to resolve the wage issue, stating that “government is working around the clock to ensure that it comes up with a minimum wage that works for all Nigerians.”
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