The Nigerian government on Thursday gave a report on the usage of the
new National Minimum Wage.
Mrs Zainab Usman, the Minister of Finance, said that the budgetary ramifications had been worked out by the Presidential Committee set up and that the report had been submitted to the president.
She said this on Thursday in Abuja, while tending to a news gathering on the condition of the Nigerian economy.
“We have looked at the report and what we are working on now is how we can finance it. Apart from the increase of the minimum wage from N18, 000 to N30,000, there is also consequential adjustment that we have to negotiate with the labour unions.
“The total implication of that would be worked out only after the negotiations and that would involve determining how much increase every other staff that is above the minimum wage would get.
“It could be a flat amount or a proportion, but the other aspect that is clear is that there would be an increase for the National Youth Service Corps (NYSC) as well because by the Act they should earn at least the minimum wage and the NYSC also has to increase to that N30,000.”