The executive arm of the federal government, led by President Bola Tinubu, would present a supplementary 2024 Budget to the National Assembly for legislation in order to accommodate payments for the expected new minimum wage.
To this end, the Federal Executive Council (FEC), on Monday, 15th July, mandated the Minister of Budget and Economic Planning, Atiku Bagudu, to come up with an amendment bill which would contain the figures.
This was part of the decisions reached during the FEC meeting presided over by President Tinubu at the State House in Abuja.
Minister of Information and National Orientation, Mohammed Idris, disclosed this while briefing journalists after the FEC meeting.
The supplementary figures would bridge any gap between the previously approved 2024 budget and the requirements of the proposed new minimum wage. The Minister said that this would cover any differential or any gap that would exist in terms of what existed before the 2024 budget was approved.
In his words, “Now, you are also aware that last week, the Nigeria Labour Congress met the President. This, of course, was part of the consultation that the President has agreed.
“Recall that he had met the Organised Sector, he had also met subnationals after the tripartite committee on Labour had submitted its report.
“In order to ensure that there is a thorough analysis of the situation so that government would come up with a minimum wage that works for all Nigerians, federal government, the subnationals and the organised private sector.
“That was also discussed today. And government has also directed the Ministry of Budget to also come up with additional support for the 2024 budget, so that any differential or any gap that will exist in terms of what existed before 2024 budget was approved, a supplementary budget and also what the requirement is for now.
“So, government is working around the clock to ensure that it comes up with a minimum wage, like I said, that works for all Nigerians. At the end of the day, this of course will be submitted to the National Assembly so that you can have legislative backing.”
Idris also disclosed that the President would have a follow-up meeting with the organised labour on Thursday this week, before the proposed amendment bill to the budget would be passed on to the National Assembly for consideration.
He re-affirmed the determination of the government to resolve all issues relating to the new minimum wage for Nigerian workers.
