Buhari To Transmit Minimum Wage Bill To National Assembly Soon
To buttress his point, he revealed that the president has made provisions for the new minimum wage for Nigerian workers in the N8.83tr budget which Naija News recalls he submitted to the National Assembly in December 2018.
There is an allowance of N160bn in the 2019 budget to take care of situations that may arise as a result of the planned increase in minimum wage.
The minister, while speaking during the public presentation of the 2019 budget explained that already, a high powered technical committee has been set up to generate ideas on how to source funds to sustain the new minimum wage and minimize inflationary impacts when the new minimum wage gets operational.
“Government is committed to an increase in the Minimum Wage. Provision has been made for this in the 2019 budget.”
“A High-powered Technical Committee has been set up to advise on ways to ensure that the attendant wage adjustments for those already over the minimum wage can be funded without increasing the level of borrowing.
“The committee is also to advise on ways to implement these consequential adjustments in such a manner as to minimise their inflationary impact.
“The recommendations of the committee will be captured in the Finance Bill to be presented to the National Assembly together with the Minimum Wage Bill,” Udoma said.