FG Reviews Minimum Wage January 23 2023

Royal Diary
Royal Diary
2 Min Read

Beginning on January 23, the National Salaries, Incomes and Wages Commission (NSIWC) will begin the process of evaluating the Federal Minimum Wage.

Recall that President Muhammadu Buhari approved N30,000 as the minimum pay for both federal and state employees in 2019.

However, NSIWC spokesperson Emmanuel Njoku stated that following a series of training sessions and discussions to prepare for widespread act monitoring, the organization had chosen to examine the national minimum wage.

Njoku stated;

“The exercise will enlighten the public and private employers and organizations on the economic benefits of adhering to the payment of the national minimum wage.

“It will also help in obtaining baseline data on remuneration policies and practices of private sector organizations to enrich the commission’s data bank on staff compensation.

“The monitoring exercise will cover the 36 states of the federation including the federal capital territory.”

Njoku stated that the Ministry of Labour and Employment, as well as the Ministry of Finance and National Planning, would be represented on the monitoring team for the exercise.

He lists the National Bureau of Statistics, Office of the Accountant-General of the Federation, Budget Office of the Federation, and Head of Service of the Federation as other stakeholders.

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The spokesperson urged all branches of the federal, state, and local governments—as well as government-owned companies, businesses in the private sector, and labor unions—to work with the monitoring officers.

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