The Federal Government said it is set to implement a new minimum wage from April 1, 2024.
Minister of Information and National Orientation, Idris Mohammed disclosed this on Thursday, November 30, in Abuja.
Mohammed said that the existing minimum wage of N30,000 would expire at the end of March 2024.
He added that the Federal Government’s proposed expenditure included N24.66 trillion for salaries in 2024, 2025, and 2026.
He said, “Certainly, there is a new wage regime that will come in on April 1, 2024. That is why these palliatives were targeted so they would cushion economic hardship before then.
“In our negotiation with Labour, we said that the wage issue was not something one could just fix. A committee that will also involve Labour itself will work on it.
“The committee is being constituted and we are talking to Labour about it. And by the time this current wage regime expires by the end of March, we will expect that a new wage will begin by April.
“It is in this wage regime that we will now have a proper salary structure for workers across the length and breadth of Nigeria. We expect that the private sector and state governors will also do the same.”
Recall that following the removal of the fuel subsidy by President Bola Tinubu on May 29, 2023, the Federal Government agreed to pay N35,000 to each of its workers to cushion the effect of the subsidy removal.
However, the organised Labour insisted that the N35,000 wage award was a temporary measure, adding that the minimum wage should be reviewed in 2024.