Mrs. Zainab Ahmed, Nigeria’s Finance Minister, on Thursday disclosed in Abuja during a press conference that the the financial implications had been worked out by the Presidential Committee set up and that the report had been submitted to the president.
She said;
“Apart from the increase of the minimum wage from N18,000 to N30,000, there is also consequential adjustment that we have to negotiate with the labour unions.
“It could be a flat amount or a proportion, but the other aspect that is clear is that there would be an increase for the National Youth Service Corps (NYSC) as well because by the Act they should earn at least the minimum wage and the NYSC also has to increase to that N30, 000.
“So, because we have not done the negotiation with labour, I cannot give you the details of what we are projecting because it is simply on projections, at the end of the day, it is what we agree with labour that will be the amount that is due.”
She, however, noted that the Federal Government is still working out modalities before the implementation of the new allowance for corps members.
She said, “The other aspect that should be clear is that there is an increase for the NYSC as well because NYSC, by its Act, is designed that they earn the minimum wage.”
