NEWS

New wage Begins In April As FG Approves N24tn For Salaries

The Federal Government announced a new minimum wage set to begin on April 1, 2024. Idris Mohammed, Minister of Information and National Orientation, disclosed that the current N30,000 minimum wage would conclude by the end of March 2024.

As per the 2024-2026 Fiscal Framework analysis, the government plans to allocate N24.66 trillion towards salaries for those years. Following President Bola Tinubu’s removal of fuel subsidy on May 29, 2023, the government opted to provide N35,000 to its workers to offset the subsidy’s effects.

Despite this, organized labour viewed the N35,000 salary as a temporary fix and emphasized the need to reassess the minimum wage in 2024. After extensive deliberations, the Federal Government’s team and the Joint National Public Service Negotiating Council reached an agreement to implement the N30,000 minimum wage on October 18, 2019.

Subsequently, trade unions initiated negotiations with the Federal Government, highlighting that the country’s labour laws mandate a review of the minimum wage every five years.

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