President Muhammadu Buhari will this morning empanel 22 ‘wise men and women’ that will advise government on ‘the ways and means’ of funding the proposed new minimum wage pegged at N30,000.

The pack is led by Bismarck Rewane, chief executive officer of Financial Derivatives.  Ben Akabueze, the director general at the Budget Office will serve as the secretary. Both are top-rate economists.

The presidential gesture comes on the heels of an agreement reached yesterday, where government promised that the bill to give legal teeth to the new wage structure will reach the National Assembly on January 23.

Presently, it is not clear how long the new “technical committee” will seat but the organized labouryesterday staged a country-wide sensitization protest apparently to ensure that government keeps its promise.

The implementation of a new national minimum wage has pitlabour against government on the seeming delay in giving legal seal to the recommendation of theAmalPepple-ledtripartite committee which turned in its reportlate last year.

While presenting the 2019 Budget to the National Assembly on December 19, President Buhari hinted that government would tread cautiously to avoid a fiscal crisis. His position must be informed by discordant tunes from state governors who are unable to agree on the size of the minimum wage.

“I am committed to addressing the issue of a new minimum wage and I will be sending a bill to the National Assembly on this. However, in order to avoid a fiscal crisis for the Federal Government, as well as the States, it is important to devise ways to ensure that its implementation does not lead to an increase in the level of borrowing.

“I am accordingly setting up a High Powered Technical Committee to advise on ways of funding an increase in the minimum wage, and the attendant wage adjustments, without having to resort to additional borrowings, “the President told the lawmakers. – Credible News

– Jan. 9, 2019 @ 12:55 GMT |