President Muhammadu Buhari yesterday said he was committed to ensuring that the nation's workers get a new minimum wage.
The president spoke at the State House while receiving the report of the Ama Pepple-led tripartite committee which recommended N30,000 as the country’s new national minimum wage.
Pepple, a former Head of Service of the Federation, said the committee carefully weighed the demand of the workers which was predicated on the high cost of living occasioned by unfavourable exchange rate and rising inflation over the past few years, among other factors.
“After carefully weighing these critical factors and bearing in the mind the overriding interest of the economy, the committee noting the offer of N24,000 by the federal government, is recommending an increase in the existing National Minimum Wage from N18,000to N30,000,” she said.
The former Head of Service of the Federation said the implementation of the recommended minimum wage will boost the purchasing power of workers, increase consumption expenditure and stimulate business and overall economic growth.
Pepple said the committee, which was constituted on November 27, 2017 by the president, has also produced a draft National Minimum Wage Bill 2018 for consideration by government.
“We strongly believe that the enactment of the draft bill into law is very critical to the operation and future reviews of the National Minimum Wage,” she said.
Responding, President Buhari, while restating his commitment to a new minimum wage act, said prices of key consumables had increased and that the most vulnerable of the country’s workers were struggling to make ends meet.
“Since 2011, many changes have taken place. Nigeria rebased its GDP to become the largest economy in Africa. We reported very strong GDP growth rates and exceptional performance of our capital markets. However, these reported successes did not flow into the pockets and homes of majority of Nigerians.
“In the last three years, we focused on correcting this deficiency. We are working to create a diversified and inclusive economy. We are pushing to clear pension arrears owed to our retired workers with the limited resources available to us,” he said.
According to the president, “The Committee Chairman highlighted some of the challenges encountered during your deliberations, especially as it relates to having a consensus position acceptable by all parties.
“I understand, on the government side, the concerns raised were around affordability – that today many states struggle to meet their existing salary requirements. On the side of labour, the points raised focused on the need for any increase to be meaningful.
“In a way, both arguments are valid. I want to assure you all that we will immediately put in place the necessary machinery that will close out these open areas. I am fully committed to having a new National Minimum Wage Act in the very near future.”
He appealed to workers and their leaders to not allow themselves to be used as political weapons.
“As the Executive Arm commences its review of your submission, we will continue to engage you all in closing any open areas presented in this report. I therefore would like to ask for your patience and understanding in the coming weeks,” he said.
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