Daily trust implementation of new minimum wage

Here is a possible implementation plan for the new minimum wage in Nigeria, as reported by The Daily Trust:

Implementation Timeline:

• The new minimum wage of N30,000 per month will take effect from April 18, 2019.
• The implementation will be phased, with the first phase covering federal employees, including those in the public service, universities, and hospitals.
• The second phase will cover state employees, while the third phase will cover local government employees.

Payment Structure:

• The new minimum wage will be paid in two parts:
  • 75% of the minimum wage will be paid as basic salary, while the remaining 25% will be paid as allowances.
  • The allowances will include housing, transportation, and other benefits.

Salary Structure:

• The new salary structure will be as follows:
  • Grade Level 1: N30,000 per month
  • Grade Level 2: N35,000 per month
  • Grade Level 3: N40,000 per month
  • Grade Level 4: N45,000 per month
  • Grade Level 5: N50,000 per month
  • Grade Level 6: N55,000 per month
  • Grade Level 7: N60,000 per month
  • Grade Level 8: N65,000 per month
  • Grade Level 9: N70,000 per month
  • Grade Level 10: N75,000 per month

Allowances:

• The following allowances will be paid:
  • Housing Allowance: 10% of basic salary
  • Transportation Allowance: 10% of basic salary
  • Other Benefits: 5% of basic salary

Implementation Challenges:

• The implementation of the new minimum wage is expected to face some challenges, including:
  • Funding: The federal government will need to increase its revenue to fund the new minimum wage.
  • Salary Structure: The new salary structure may lead to a re-evaluation of the current salary structure, which could lead to a re-allocation of funds.
  • State and Local Government Funding: The implementation of the new minimum wage will also depend on the funding capacity of state and local governments.

Conclusion:

• The implementation of the new minimum wage is a significant step towards improving the welfare of Nigerian workers.
• However, it is crucial that the government addresses the challenges associated with the implementation to ensure that the new minimum wage is sustainable and beneficial to all stakeholders.