On Monday, the Federal Government revealed that the 2024 supplementary budget would cater to the new minimum wage for workers in the country, News About Nigeria reports.
The Minister of Information and National Orientation, Mohammed Idris, revealed this at the end of the Federal Executive Council (FEC) meeting at the State House, which was presided over by President Bola Tinubu on Monday.
He noted that the FG is working on ensuring that the supplementary budget they are working on supports the implementation of a new minimum wage.
The Minister further revealed that the President has directed the Ministry of Budget and National Planning to develop additional financial support for the 2024 budget, explaining that the move is to bridge any gap between the previously approved 2024 budget and the requirements of the proposed new minimum wage.
He said, “Now, you are also aware that last week, the Nigeria Labour Congress met the President. This, of course, was part of the consultation with which the President had agreed. Recall that he had met the organised sector; he had also met subnationals after the tripartite committee on labour had submitted its report. In order to ensure that there is a thorough analysis of the situation, the government would come up with a minimum wage that works for all Nigerians, the federal government, the subnational, and the organised private sector.
“That was also discussed today. And government has also directed the Ministry of Budget to come up with additional support for the 2024 budget, so that any differential or any gap that will exist in terms of what existed before the 2024 budget was approved, a supplementary budget, and also what the requirement is for now. So, the government is working around the clock to ensure that it comes up with a minimum wage, like I said, that works for all Nigerians. At the end of the day, this of course will be submitted to the National Assembly so that you can have legislative backing.”
