The N30,000 Minimum Wage Should Will End by March 2024 - FG

The federal government of Nigeria recently announced that a revised minimum wage will be implemented, which will kick off on April 1, 2024.

The Minister of Information and National Orientation, Idris Mohammed, revealed in Abuja that the existing minimum wage of N30,000 will end by March 2024, while a revised minimum wage will be implemented on April 1, 2024.

Regarding the 2024-2026 Fiscal Framework budget, the Minister of Information, Idris Mohammed, stated that the Federal Government has proposed expenditures, including N24.66 trillion for salaries in 2024, 2025, and 2026. 

With the removal of the fuel subsidy by President Bola Tinubu on May 29, 2023, the FG has agreed to pay N35,000 to all civil servants to reduce the hardship felt by the removal of the fuel subsidy.

However, this didn’t sit well with the members of organized labour as they insisted that the N35,000 increase in minimum wage increase was temporary and that the minimum wage be reviewed in 2024.

The Nigeria Labour Congress National President, Joe Ajaero, recently said, “It is open knowledge that the review of the national minimum wage is a matter of the law which is expected to happen in 2024.” 

The Minister stressed that the raise in pay tends to address government aid to support its workers due to the hardship felt by the removal of fuel subsidy. 

He said,  

  • Indeed, a new wage regime will come in on April 1, 2024. These palliatives were targeted because they would cushion economic hardship before then. In our negotiation with Labour, we said that the wage issue was something other than something one could just fix. A committee that will also involve Labour itself will work on it. 

  • The committee is being constituted, and we are talking to Labour about it. And by the time this current wage regime expires by the end of March, we expect a new wage to begin in April.

  • In this wage regime, we will now have a proper salary structure for workers across the length and breadth of Nigeria. We expect the private sector and state governors to do the same.

Be the first to comment!

You must login to comment

Related Posts