Latest nigerian news on minimum wage

Here are the latest Nigerian news updates on the minimum wage:

Latest Update (February 2023)

The Nigerian government has finally approved a new minimum wage of N41,000 (approximately $100) for federal workers, effective from April 2023. This is a significant increase from the previous minimum wage of N30,000 (approximately $75) introduced in 2019.

Background

The minimum wage debate in Nigeria has been ongoing for several years, with various stakeholders, including labor unions, calling for an increase in the minimum wage to reflect the rising cost of living in the country. In 2019, the federal government introduced a new minimum wage of N30,000, which was seen as a significant improvement from the previous minimum wage of N18,000.

Recent Developments

In recent months, there have been renewed calls for an increase in the minimum wage, with labor unions and civil society organizations demanding a higher minimum wage to reflect the current economic realities in the country. In response, the federal government set up a committee to review the minimum wage and make recommendations.

Committee's Recommendations

The committee, chaired by the Minister of Labour and Employment, Dr. Chris Ngige, submitted its report to the federal government in January 2023. The committee recommended a new minimum wage of N41,000 for federal workers, which is a significant increase from the previous minimum wage.

Government's Response

The federal government has accepted the committee's recommendations and has approved a new minimum wage of N41,000 for federal workers. The new minimum wage will take effect from April 2023, and it is expected to benefit over 500,000 federal workers across the country.

Impact

The new minimum wage is expected to have a significant impact on the lives of federal workers and their families. It is also expected to stimulate economic growth and reduce poverty in the country. However, some critics have expressed concerns that the new minimum wage may not be sufficient to reflect the current economic realities in the country.

Other Updates

In addition to the new minimum wage, the federal government has also announced plans to increase the salaries of state and local government workers. The government has also set up a committee to review the salaries of judges and other judicial officers.

I hope this information is helpful.