Federal government to set up committee on minimum wage #

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Federal Government to Set Up Committee on Minimum Wage

In a bid to address the growing concerns over the minimum wage, the federal government has announced plans to set up a committee to review and recommend a new minimum wage for the country.

The committee, which is expected to be composed of representatives from various stakeholders, including labor unions, employers, and government officials, will be tasked with conducting a comprehensive review of the current minimum wage and making recommendations for its revision.

The move comes amid growing calls for an increase in the minimum wage, which has remained stagnant at N18,000 per month since 2011. Many have argued that the current minimum wage is inadequate and does not reflect the current cost of living in the country.

The committee is expected to consider various factors, including the cost of living, inflation, and the economic conditions of the country, in making its recommendations.

The federal government has also announced plans to engage with various stakeholders, including labor unions and employers, to gather their inputs and opinions on the minimum wage.

The committee is expected to submit its report and recommendations to the federal government within a specified timeframe, which has not been disclosed.

The move is seen as a positive step towards addressing the concerns of workers and ensuring that they are fairly compensated for their labor.

Background

The minimum wage was last increased in 2011, when it was raised from N7,500 to N18,000 per month. Since then, there have been calls for an increase in the minimum wage, citing the rising cost of living and the need to ensure that workers are fairly compensated for their labor.

The federal government has been under pressure to increase the minimum wage, with many arguing that the current rate is inadequate and does not reflect the current economic conditions of the country.

Conclusion

The setting up of a committee to review and recommend a new minimum wage is a positive step towards addressing the concerns of workers and ensuring that they are fairly compensated for their labor. The committee's recommendations are expected to be based on a comprehensive review of the current minimum wage and will take into account various factors, including the cost of living, inflation, and the economic conditions of the country.