President Bola Tinubu has approved the sum of N500 million for the inauguration and funding of the 37-man Tripartite Committee on New National Minimum Wage.
A letter addressed to the President by the Secretary to the Government of the Federation, George Akume, which was uploaded on X by @PIDOMNIGERIA (99% OPPRESSED), revealed that an initial request of N1 billion was made by the Secretary to the Government of the Federation, George Akume.
However, President Tinubu instructed a reduction by half, approving the committee to commence operations with N500 million.
The committee, inaugurated by Nigerian Vice President Kashim Shettima on January 30, 2024, is tasked with determining a new minimum wage.
The letter titled, ‘Request For Approval Of Funds And Inauguration Of The Tripartite Committee On National Minimum Wage,’ reads: “This memorandum seeks your approval the following in respect of the above subject matter:
“i. The release of the sum of Orte Billion Naira (N1,000,000,000.00) only for the above exercise. This has been scaled down from N1.8Billion.
“ii. The 26th January, 2024 for the inauguration of the Committee. All relevant documents are hereby attached.
“2. The New Minimum Wage is expected to be ready by 1st April, 2024 according to Law.”
“3. Respectfully submitted M President’s consideration and approval Sir,” the letter added.
A handwritten response in the letter from the President instructed the committee to cut down their budget by 50% and start with the approved budget of N500 million.
“Start with N500million first,” the response read.