NEW MINIMUM WAGE TO COMMENCE IN APRIL NEXT YEAR

Abiodun Akinwumi 2023-12-01 0

The Federal Government has announced that a new minimum wage regime will
take effect on April 1, 2024.


The Minister of Information and National Orientation IDRIS MOHAMMED,
stated in an interview with newsmen in Abuja that the present N30,000 minimum
wage would expire at the end of March 2024.


According to the analysis of the 2024-2026 Fiscal Framework budgets, the Federal
Government will spend N24.66 trillion on salaries in 2024, 2025, and 2026.


Following President BOLA TINUBU’s removal of fuel subsidy on May 29, 2023,
the Federal Government decided to provide N35,000 to each of its workers to
mitigate the consequences of the subsidy removal. However, organized labour
stated that the N35,000 salary award was merely a stopgap solution, adding that the
minimum wage should be reconsidered in 2024.