Minimum wage: FG asks technical committee to look for additional revenue

- The federal government has asked the minimum wage to look for sources to pay the minimum wage

- The minister of budget and national planning, Senator Udoma, said the move is to ensure that the government will meet the increased costs that would arise from a new minimum wage

- Udoma added that looking for additional revenue source will ensure that the new minimum wage will not affect the government’s expenditure on education, health, infrastructure, etc.

President Muhammadu Buhari has asked the newly inaugurated technical committee on the Implementation of the new minimum wage to look for additional sources of revenue to pay the minimum wage and the salary adjustment that will follow.

The Punch reports that the minister of budget and national planning, Senator Udoma Udo Udoma, on Friday, January 11, explained that the committee would, among other things, identify additional sources of revenue to ensure that the government could meet the increased costs that would arise from the implementation of a new minimum wage.

According to Udoma, whenever a new minimum wage bill is enacted, there are demands for some wage increases even from those already earning more than the new minimum wage.

He said: “All these salary increases will impose additional costs on the government. Therefore, the committee is expected to make suggestions as to how the government can raise additional revenues to ensure that the government can still meet its expenditure on other services such as education, health, infrastructure and other important functions of the government, after paying the increased salaries.”

Also, a statement signed on Sunday, January 13, by the minister’s special adviser on media added: “The committee is expected to, among other things, look at how to get additional revenues so that as our wage bill goes up, we are able to increase our revenues to ensure that our spending on capital projects, basic infrastructure, health, education and others is not reduced. In short, the committee is to advise on ways to ensure that notwithstanding the increase in payroll costs, there continues to be adequate funding for other government activities. This is not just for the 2019 fiscal year, but going forward, thereafter.”

Udoma said that due to the government’s commitment to the minimum wage and increased salaries, the amount provided for recurrent (non-debt) spending would rise from N3.53tn in 2018 to N4.72tn in 2019.

“This is the reason why the president has set up a technical committee to look at additional revenue sources so that we can pay the minimum wage and the consequential salary adjustment,” he reiterated.

PAY ATTENTION: Get the Latest Nigerian News Anywhere 24/7. Spend less on the Internet!

Meanwhile, Legit.ng previously reported that the Nigeria Labour Congress (NLC) said the federal government’s advisory committee has no relevance to the new national minimum wage agreement.

Ayuba Wabba, NLC president, who spoke in an interview with NAN on Thursday, January 10, in Abuja, said the committee has no bearing with the agreement reached on the minimum wage.

President Muhammadu Buhari had on Wednesday inaugurated a technical advisory committee on the implementation of the new national minimum wage and reiterated his commitment to its payment.

NAIJ.com (naija.ng) -> Legit.ng. We keep evolving to serve our readers better.

Minimum Wage: Is N30,000 Too Much for FG to Pay Workers? - Nigeria Street Gist | Legit TV

Source: Legit.ng

from Nigeria News today & Breaking Naija news ▷ Read on LEGIT.NG 24/7 http://bit.ly/2FvW5HA
via EDUPEDIA24/7

Nigerian Academy Of Science Inducts First Female President

The Nigerian Academy of Science has inducted a professor of Parasitology/Epidemiology, Ekanem Ikpi Braide, as its 19th President on Thursday. In a statement issued by Oladoyin Odubanjo, the Executive Secretary of the Academy, Braide is the Academy’s first female President in 44 years of existence. It read, “Braide was a member of the national committee that achieved the laudable feat of guinea worm eradication in Nigeria. “She has a rich professional experience as a researcher and an administrator. In July 2010, Professor Braide was honoured by the President of Nigeria with the award of Officer of the Order of the Federal Republic (OFR) for her contribution to disease control in Nigeria. “She was nominated by the Honourable Minister of Health to serve in the Ministerial Expert Advisory Committee on COVID-19 Health Sector Response (MEACoC-HSR). “Professor Braide served as Vice-Chancellor, Cross River University of Technology (CRUTECH) Calabar, Nigeria (2004 to 2009) and as P

NLNG Signs Letter Of Intent On Delayed Gas Expansion Project

The Nigerian Natural Liquefied Gas LTD has signed a letter of intent for the engineering, procurement and construction of its long held up Train Seven project. In a statement released by the company on Wednesday, it said that the $10bn project will be executed by a consortium of Italian firm Saipem, Japan’s Chiyoda and South Korea’s Daewoo. The statement reads, “The project will form part of the investment of over $10bn including the upstream scope of the LNG value chain, thereby boosting the much needed Foreign Direct Investment profile of Nigeria.” Managing Director of NLNG, Tony Atta, said in 2018 that the Final Investment Decision would be made in the fourth quarter of that year. This did not however, materialize. According to the release, the project will have a four to five-year execution time after the signing of the FID. The project is expected to add an extra 8 million tons per annum of gas to the 22 mtpa currently exported by the company. Oil News AddThis :

Former Maritime Agency Boss, Buba Galadima, Accuses AMCON Of Witch-hunt After Property Takeover

A former Director-General of the Nigeria Maritime Agency, Buba Galadima, has accused the Asset Management Corporation of Nigeria of witch-hunt after the agency took possession of his business and assets on Tuesday in Abuja. Galadima, an ardent critic of President Muhammadu Buhari, claimed that he did not borrow money or have unpaid debt with Unity Bank, which lodged a complaint against him and occasioned AMCON’s move on Tuesday. The properties taken over include House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory, Abuja and House No. 4, Bangui Street, Wuse 2, also in Abuja. Reacting to the situation, Galadima said, “This is an attempt to disgrace and break me down. This is injustice and an attempt to humiliate me. "But I am unbreakable and they can never silence me. They sacked me and over 50 people that sleep in the apartment. "We don’t know where to go. We will remain on the streets. We will remain on the streets until God provi

EDUPEDIA247

Search This Blog