Federal Government finalizes salary adjustments for new minimum wage
The federal government committee has successfully negotiated consequential adjustments for the newly approved minimum wage of ₦70,000 for Nigerian workers, bringing relief to many amid ongoing economic challenges.
In a statement released on Friday, the committee highlighted that a specific option for salary adjustments has been reached, ensuring a more equitable distribution of the wage increase across various sectors.
This agreement comes after extensive discussions aimed at addressing concerns raised by labor unions regarding the impact of inflation and rising living costs on workers’ livelihoods.
A specific option for consequential salary adjustments on the new ₦70,000 minimum wage was agreed upon by the committee, led by Mrs. Didi Walson-Jack, the Federation’s Head of Service.
The committee suggested retroactively applying the increased minimum wage until July 2024, which would entail arrears for the government to pay.
It also recommended that the wage award been paid to federal government workers should cease once the new minimum wage gets paid.
It, however urged the federal government to put into consideration the fresh hike in the price of petrol and consider its effect on workers.
The committee agreed that consequential adjustments be implemented as follows:
CONPSS 01-06 • 80.81% – 64.73%
CONPSS 07-14 • 45.59% – 19.35%
CONPSS 15-17 • 14.35% – 4.41%
The committee also recommended the following:
(i) That the National Salaries Incomes And Wages Commission (NSIWC) will generate the appropriate salary templates for other consolidated salary structures for implementation.
(iii) That the effective date of the implementation should be 29th July 2024.
(iv) That the payment of the wage award issued vide NS/WC Circular SWC.04/T/33 dated 19 October 2023 should continue to be paid until 28th July 2024.
(v) That the Federal Government should take appropriate measures to alleviate the plight of Federal workers as a result of the recent increase in PMS, including the consideration of tax waivers and other incentives; and
(vi) That the NSIWC in collaboration with other stakeholders should commence monitoring of the implementation in line with the provisions of the Act.
