States oppose FG N600bn vote for N70,000 wage
Representatives of state governments at the last Federation Accounts Allocation Committee meeting have bemoaned the decision by the Federal Government to save additional revenue for the payment of the new minimum wage.
This development, which affected their revenue distribution from the federation committee, was received with opposing views when an update on statutory allocation showed that the government transferred a sum of N200bn into the non-savings account at the August FAAC meeting, making a total of N595bn.
The Commissioners of Finance, Akwa Ibom, Dr Linus Noah; Delta, Okenmor Tilije and Ekiti, Akintunde Oyebode raised the observation at the last FAAC meeting held August 16, 2024, minutes of which our correspondent obtained.
At the meeting, it was learnt the committee distributed a total sum of N1.36tn to the three tiers of government, N1bn less than N1.35tn shared in June.
This is despite recording an increase of N13bn between the gross total of N2.61tn in July and N2.48tn in June.
In his opening address, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, applauded President Bola Tinubu for signing the National Minimum Wage Act into law, adding that its implementation will be of immense benefit to all Nigerians.
He further disclosed that discussions were still ongoing on the consequential adjustments.
The minutes quoting the minister read, “Work on the new minimum wage is still in progress, adding that government had continued to dialogue with the organised labour and the private sector with a view to reaching an agreement.”
(Punch)
