Minimum wage: FG reaches agreement on salary adjustment

Federal Government committee has reached an agreement on how to adjust salaries following the approval of the new minimum wage of ₦70,000 for Nigerian workers.

A source revealed that the committee told newsmen on Friday that the committee has decided on a specific option for adjusting salaries based on the new minimum wage.

Last week, the government set up a 16-member committee to discuss issues related to the National Minimum Wage Act, 2024.

The agreed salary adjustments are as follows:

– Workers in CONPSS levels 01-06 will get an 80.81% to 64.73% increase.

– Workers in CONPSS levels 07-14 will receive a 45.59% to 19.35% increase.

– Workers in CONPSS levels 15-17 will get a 14.35% to 4.41% increase.

CONPSS stands for the Consolidated Public Service Salary Structure, which is used to determine the pay scale for public sector workers in Nigeria.

It covers various levels (CONPSS 01-17), with higher levels representing more senior positions.

The committee also agreed that:

1. The National Salaries, Incomes and Wages Commission (NSIWC) will create new salary templates.

2. The implementation will start from July 29, 2024.

3. Until July 28, 2024, the wage award from the October 2023 circular will continue to be paid.

4. The government should consider tax waivers and other benefits to help workers cope with the increase in fuel prices.

5. NSIWC will work with other groups to ensure the adjustments are properly carried out.