BREAKING: FG Announces New Date For N70K Minimum Wage Implementation

FG has announced a new date for the N70K Minimum Wage implementation.

NaijaOnPoint Nigeria reports that the Federal Government has confirmed that the new minimum wage for civil servants will be implemented starting July 29, 2024.

This decision came after the Committee on Consequential Adjustments in Salaries, led by the Head of Civil Service, Didi Walson-Jack, reached an agreement following several meetings.

According to the committee, the payment of the wage award, which had been halted, will continue until July 28, 2024.

Before arriving at their recommendations, they also considered the country’s current economic situation and the government’s financial capacity.

The committee further advised that appropriate salary structures be created for smooth implementation of the new wage.

Additionally, measures like tax waivers and other incentives to ease the burden on federal workers, in light of the recent fuel price hikes, were suggested.

The committee is set to monitor the implementation in line with the new National Minimum Wage Act of 2024, which increased the wage from ₦30,000 to ₦70,000.

This committee, consists of 16 members, was tasked with negotiating salary adjustments and developing templates for the approved minimum wage.