Home Business Economy FG starts minimum wage review process

FG starts minimum wage review process

3 min read
access bank

The National Salaries Incomes and Wages Commission (NSIWC) has said that it has initiated process for the review of the National Minimum Wage.

In a statement on Sunday in Abuja, NSIWC’s Head of Public Affairs, Mr Emmanuel Njoku said that, as part of the process to review the minimum wage, which would be due in 2024, the commission had held a series of meetings and training toward nationwide monitoring of the Minimum Wage Act 2019.

He said the monitoring billed to begin on 23rd January would help ascertain the compliance level of public and private employers and organizations.

According to him, the monitoring team will among other things inquire if employers keep adequate records of wages and conditions of service of employees.

“The exercise will enlighten the public and private employers and organizations on the economic benefits of adhering to the payment of the National Minimum Wage.

“It will also help in obtaining baseline data on remuneration policies and practices of private sector organizations in order to enrich the commission’s data bank on staff compensation.

“The monitoring exercise will cover the 36 states of the federation including the Federal Capital Territory”, he said.

Njoku said the monitoring team for the exercise would be drawn from key stakeholders including the Ministry of Labour and Employment, and the Ministry of Finance and National Planning.

Other stakeholders, according to him, are the Head of Service of the Federation, the Office of the Accountant-General of the Federation, the Budget Office of the Federation, and the National Bureau of Statistics.

The spokesperson called on federal, state, and local government ministries, departments, and agencies, including government-owned enterprises, private sector establishments, and labour unions to cooperate with the monitoring officers.

Load More Related Articles
Load More By Breezynews
Load More In Economy

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Lagos, FIRS enter tax audit agreement

Lagos State Government has sealed a bilateral agreement with the Federal Government to har…