President Muhammadu Buhari has said that the salaries of all those earning above the new minimum wage will undergo review.
Speaking to the technical advisory committee on the implementation of new national minimum wage in Abuja, President Buhari revealed that the process of the review would take off after the passage of the new minimum wage bill, the Natio reports.
The president said: “However, we anticipate that after the new minimum wage bill has been passed into law, we will be going into negotiations for salary review for all the workers who are already earning above the new minimum wage. It is therefore important that we are properly prepared to meet these demands.
“As you know we, at the Federal level, have made adequate provision for the increase in the Minimum Wage in our 2019 Budget proposals which we submitted to the National Assembly.
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“Therefore, we will be able to meet the additional costs that will be incurred in moving up all personnel who are currently earning below the new minimum wage.” “It is imperative that the Federal Government carries the State Governments along in determining any upward review of the minimum wage for workers.
“This is especially necessary considering the prevailing public sector revenue challenges, which have made it extremely difficult for some of the governments to pay workers as and when due.
“I want to make it clear that there is no question about whether the National Minimum Wage will be reviewed upwards. I am committed to a review of the Minimum Wage.
“We must therefore look at ways of implementing these consequential wage adjustments in a manner that does not have adverse effects on our national development plans, as laid out in the Economic Recovery and Growth Plan (ERGP). “The ERGP sets appropriate targets for levels of Capital Expenditure, Public Debt, Inflation, Employment, etc.
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Spend less on the Internet! “It is absolutely important that the implementation of a new minimum wage does not adversely affect these targets, and thereby erode the envisaged gains for the workers.“ The president disclosed that final steps that would lead to the submission of the bill to the National Assembly are underway.