FG Adjusts New Formula For Minimum Wage In Agreement With Labour

The Federal Government, led by Muhammadu Buhari has finally reached an agreement on the adjustment formula for the implementation of the new minimum wage.

The agreement reached late Thursday night was made known by Festus Keyamo, the Minister of State for Labour and Employment.

This is after several attempts by the negotiating parties failed to bear yield fruits, six months after President Muhammadu Buhari gave his assent to the N30,000 new minimum wage.

“After some delicate negotiations (with both Ministers as conciliators) Government & Labour have finally reached an agreement on the consequential adjustments of other wages following the implementation of the enhanced minimum wage of N30,000. We are now working on the communique,” Keyamo tweeted Thursday night.

Mr Keyamo provided further information on the agreement which was signed by both parties.

The parties agreed that officers on CONPSS salary structures of level 07 should be adjusted to 23.2 per cent, level 08 gets 20 percent, level 09 was modified to 19 percent, level 10 to 14 was pegged at 16 percent while those on level 15 to 17 was adjusted to 14 percent.

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