FG Reveals How N30,000 Minimum Wage Will Be Funded

Udo Udoma

The federal government has said it will be considering increasing Value Added Tax (VAT) to fund the new national minimum wage.

Nigeria’s Budget and National Planning Udo Udoma stated this on Tuesday while during the Senate Committee on Finance.

He said, “The current minimum wage of N18,000 is really too low. It is difficult for workers to manage on that amount.

“The President supported a review, but it is important that as we are revising it, we should be able to fund it.

“It is in the light of this that we would be coming to you (Senate) because there may be the need to make some changes, especially the VAT, in order to fund the minimum wage once it is announced.”

This decision was reached after the upper chamber’s ad-hoc committee on new minimum wage headed by Senator Francis Alimikhena, submitted its report.

Zebra News understands that Senate had on Tuesday approved N30,000 as the new national minimum wage.

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Abiola Alaba Peters is an Exceptionally skilled Journalist who possesses dogged determination to find the story and deliver it to the public. Flexible and willing to work long hours when needed. Fondly called AAP, Abiola who is also a broadcaster believes in protecting the confidentiality of anonymous sources even in the face of tremendous pressure.