Minimum Wage: FG increases NYSC allowance to N30,000 – The Nigerian government on Thursday gave an update on the implementation of the new National Minimum Wage.
Mrs Zainab Usman, the Minister of Finance, said that the financial implications had been worked out by the Presidential Committee set up and that the report had been submitted to the president.
She said this on Thursday in Abuja, while addressing a news conference on the state of the Nigerian economy.
“We have looked at the report and what we are working on now is how we can finance it”, NAN quoted her as saying.
“Apart from the increase of the minimum wage from N18, 000 to N30, 000, there is also consequential adjustment that we have to negotiate with the labour unions.
“The total implication of that would be worked out only after the negotiations and that would involve determining how much increase every other staff that is above the minimum wage would get.
“It could be a flat amount or a proportion, but the other aspect that is clear is that there would be an increase for the National Youth Service Corps (NYSC) as well because by the Act they should earn at least the minimum wage and the NYSC also has to increase to that N30, 000.
“So, because we have not done the negotiation with labour, I cannot give you the details of what we are projecting because it is simply on projections, at the end of the day, it is what we agree with labour that will be the amount that is due.”
On the issue of debt increase from N12.2 trillion to N23.0 trillion, Usman said it was by design.
According to her, the Economic Recovery and Growth Plan (ERGP) is designed to reflate the economy and plunge the nation out of recession by borrowing in the first to third year and in the fourth year start reducing the borrowing.
She said the borrowing was majorly to finance capital projects, which was why the nation was able to come out of recession.
“The method we adopted helped us but the consequence is this increase in debt and that is why the Ministry of Finance and all its agencies are working to ensure that we increase revenue.
“At 19.0 per cent debt to Gross Domestic Product (GDP), we still are the lowest among our comparator countries.
“The problem we have is a revenue problem and that is why all we are doing is to make sure we enhance our revenue, if our revenue performs optimally, we are in a good place as far as debt is concerned.”
GOOD DAY SIR/MA
HAVE YOU HELD ABOUT RICH CONNECT TRUST INVESTMENT…?
RICH CONNECT TRUST INVESTMENT is a matrix system which give you DOUBLE of your CAPITAL back in ( 45 Minutes ) after Registrations
RICH CONNECT PACKAGES
N20,000——N40,000
N40,000——N80,000
N50,000——N100,000
N100,000—–N200,000
N150,000—–N350,000
N300,000—–N600,000
N200,000—–N400,000
N400,000—–N800,000
N500,000—–N1,000,000
NOTE: we credit your account after 45mins of Your Registeration
INTRODUCTION
RICH CONNECT TRUST Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Okafor Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.
07046246360
ITS SIMPLE HERE!!!!!!!
We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 100k within 25mins we make profit of 300k then send 200k to you then profit 100k This is not mmm where they merge people to donate for each other
You pay directly to us and we credit you directly
Contact Mrs. GOODLUCK TIMOTHY
07046246360
NOTE:- YOU GET CREDITED BACK IN LESS THAN 45 MINUTES.
CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING
NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem.