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Nigerian senate finally approve 30k minimum wage

……As VAT increases from 5-10%

The National Minimum Wage Bill will, however, become effective after the president, Muhammadu Buhari, assents to it.

As Federal government plans to increase VAT from current 5 percent to 10 percent in order to pay  workers for their N30 000.00 minimum wage.

According to Premium Times, the chairman of the ad-hoc committee set up to review the bill, Francis Alimikhena, presented a report on Tuesday, where they recommended that N30, 000 be approved as minimum wage for Nigerian workers.

It also recommended that the federal government put in place a procedure to review revenue sharing formula to enhance state capabilities towards implementation of the new wage.

The committee further suggested that relevant agencies should compute the cost implication of the bill on the 2019 budget and forward same to the National Assembly while N75,000 was recommended as fine ‘for not keeping records of employees.

The lawmakers adopted all the recommendations.
The bill passed the first and second reading at the Senate on January 24.

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