The computation of the new minimum wage for junior federal workers have been completed by the National Salaries, Incomes, and Wages Commission (NSIWC).
That of workers in the senior cadre will be ready in the next two or three weeks.
A Presidency source, who made these known to DECENCY GLOBAL NEWS, said both data would be collectively be forwarded to the Office of the Accountant General of the Federation (OAGF) for further processing and implementation.
The source added that the NSIWC is waiting for the conclusion of negotiations between the Nigeria Labour Congress (NLC) and Trade Union Congress, (TUC) on one side and the federal government on the other to ensure that workers’ remuneration were proportionately aligned with the new minimum wage, known as consequential adjustment.
Junior workers are those on grade levels one to five while senior staff members are those on six and above. Depending on the organisation.
The Presidency source explained that the computations were being done to ensure seamless rollout of the new wage structure, which is expected to bring relief to workers , particularly those in the junior cadre.
Junior workers, who are the primary beneficiaries of the recent wage adjustment will have their monthly earning rise from the current N30,000 to N70,000.
The Presidency source said: “The details for levels one to five have been computed and will be forwarded to the Accountant General’s office very soon
‘’The consequential adjustment is a critical component of the new wage structure, stemming from the recent agreement between the Federal Government and labour unions. This adjustment will determine the new salary scales for workers above grade level five, ensuring that their remuneration is proportionately aligned with the new minimum wage.
“The deliberations between labour leaders and the government are ongoing. They are working to agree on the percentage increase that will apply to different categories of workers as part of the consequential adjustment. Once finalised, these adjustments will be forwarded to the National Salaries, Incomes, and Wages Commission for computation.”
An official at the Office of the Accountant General of the Federation (OAGF) told DECENCY GLOBAL NEWS that they were poised to receive the final wage details from the NSIWC. The official explained that the data were “crucial for calculating the Federal Government’s total wage bill under the new wage remuneration structure.’’
He added: “We are awaiting the details from the National Salaries, Incomes, and Wages Commission to determine the total wage bill under the new minimum wage.
“This will allow us to assess the financial implications and ensure that all federal employees are paid in accordance with the new law.
Before the new N70,000 minimum wage, Federal Government’s monthly wage bill was estimated at approximately N265 billion. The figure encompasses salaries for the armed forces, civil servants, and all other personnel on the federal government payroll.
With the new wage adjustments, this figure is expected to rise significantly, underscoring the importance of precise calculations by the OAGF.
DECENCY GLOBAL NEWS noted that President Bola Tinubu’s administration has been proactive in addressing wage-related concerns, particularly in light of the rising cost of living and economic challenges facing workers.
Following a crucial meeting with NLC and TUC leaderships on July 15, President Tinubu approved the increase in the national minimum wage.
This decision was later codified through the passage of a new minimum wage bill by the National Assembly, which the President signed.
The new legislation also mandates a review of the national minimum wage every three years, ensuring that wage adjustments keep pace with inflation and economic realities.
