Tuesday, June 18, 2019
  • Tuesday, June 18, 2019

President Buhari Says Minimum Wage May Not Applies To Senior Officials

By Olumidagreat on January 9, 2019
0 48 Views

President Muhammadu Buhari has said that the proposed minimum wage for the country’s workers may not be implemented across the board as those currently earning above the yet to be approved minimum wage would have to enter into negotiation with the government on the next move.
The president said that after the new minimum wage has been passed into law, the government will go into negotiations for salary review for all the workers who are already earning above the new minimum wage.
President Buhari who spoke at the inauguration of a technical committee, headed by a renowned economist, Bismarck Rewane, noted that it was important to properly prepare the minds of those involved so that they will not be taken unawares when the time comes.
“We anticipate that after the new minimum wage has been passed into law we will be going into negotiations for salary review for all the workers who are already earning above the new minimum wage. It is therefore important that we are properly prepared to meet these demands.
“We must, therefore, look at ways of implementing these consequential wage adjustments in a manner that does not have adverse effects on our national development plans, as laid out in the Economic Recovery and Growth Plan (ERGP). The ERGP sets appropriate targets for levels of Capital Expenditure, Public Debt, Inflation, Employment, etc.
“It is absolutely important that the implementation of a new minimum wage does not adversely affect these targets, and thereby erode the envisaged gains for the workers.
“It is against this background that I have set up a Technical Committee to advise Government on how best to fund, in a sustained manner, the additional costs that will arise from the implementation of the consequential increases in salaries and allowances for workers currently earning above the new minimum wage.” he said
He said that the inaugurated technical committee will be chaired by an economist and financial expert, Mr. Rewane with other experienced economists and administrators from the private sector working together with all the relevant officials of government.
He enumerated the terms of reference for the committee to include develop, and advise government on how to successfully bring about a smooth implementation of impending wage increases and identify new revenue sources, and areas of existing expenditure from where some savings could be made in order to fund the wage increases without adversely impacting the nation’s development goals as set out in the Economic Recovery and Growth Plan.
Others are to “propose a work plan and modalities for the implementation of the salary increases, any other suggestions that will assist in the implementation of this, and future wage increases.
“Given the urgency of this exercise, the Committee is expected to complete its deliberations and submit its report and recommendations within one month today.


Reliable, factual and educative Financial/business News you can trust. Providing accurate information suitable for leaders and decision-makers in business, government, investors, analysts and international institutions.

Leave a comment