Chairman of the Committee, Amal
Pepple, made this known in her remarks when the committee presented its report
on the Review of National Minimum Wage to President Muhammadu Buhari at the
Council Chamber of the Presidential Villa, Abuja.
Pepple explained that the
recommendation made by the committee was predicated on the high cost of living,
occasioned by the exchange rate as well as the rising inflation rate in the
country.
She said that the committee also
considered micro-economic indicators including the revenue and expenditure
profile of the government.
Pepple expressed the belief that
the implementation of the recommended minimum wage would boost the purchasing
power of the working class, increase consumption expenditure, and stimulate
economic growth.
“Consideration was also given to
the critical role of the informal sector in employment generation and the need
for a realistic minimum wage that will not stifle the growth of the sector and
the overall economy.
“After carefully weighing these
critical factors and bearing in the mind the overriding interest of the
economy, the committee, while noting the offer of N24,000 by the Federal
Government, is recommending an increase in the existing minimum wage from
N18,000 to N30,000.
“We believe that the
implementation of the recommended minimum wage, will, no doubt, boost the
purchasing power of workers, increase consumption expenditure and ultimately
stimulate business and overall economic growth.”
“The committee has also produced
a Draft National Minimum Wage Bill 2018 for consideration by the 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.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com