FG Plans Supplementary Budget For Minimum Wage

Director General, Budget Office of the Federation, Mr Ben Akabueze says the Federal Government may go for supplementary budget to implement the new minimum wage if approved by the law.
Akabueze disclosed this at the Media and CSOs Dialogue on the 2018 budget last Wednesday in Abuja.
He said that the 2018 budget at present could accommodate the proposed minimum wage by the Nigeria Labour Congress (NLC).
“When an agreement is reached, the financial implication would be quantified and if need be, there would be a supplementary budget.
“The only provision that exists is what we call public service wage adjustment, but that is barely over N40 billion provided on that line, and that may not be enough to cater for any adjustments that may be necessary.’’
The Tide source reports that President Muhammadu Buhari, in November 2017 inaugurated a 30-manTripartite National Minimum Wage Committee, calling on the members to come up with a fair and decent wage for Nigerian workers.
Buhari said that re-negotiation of a new national minimum wage had become imperative because the existing minimum wage instrument had since expired.
“We all know that the last minimum wage instrument has expired.
“It is in recognition of the need to ensure a fair and decent living wage that the Federal Government put in motion necessary mechanisms so that we can today inaugurate this large committee with a big task ahead of you.