President Muhammadu Buhari on Monday in Abuja received the report of the Presidential Technical Advisory Committee on the Implementation of the National Minimum Wage (PTAC) with a pledge to review it expeditiously.
The PTAC, which was inaugurated on Jan. 9, was mandated to advise the Federal Government on how best to fund, in a sustained manner, the additional costs of implementing the imminent increase in the National Minimum Wage.
The committee was also asked to advice on the consequential increases in salaries and allowances for other employees without worsening the already difficult fiscal condition and without adversely impacting the nation’s development goals as set out in the Economic Recovery and Growth Plan (ERGP).
The committee was also required to propose a work plan and modalities for implementation of the salary increase.
President Buhari noted with delight the way and manner the Technical Committee, chaired by an economist and businessman, Bismarck Rewane, took on “this important national assignment with all seriousness’’.
“Let me thank the Chairman, Mr Bismarck Rewane, and all the Committee members most sincerely for your patriotism, hard work, commitment and sacrifices.
“I understand that you have worked tirelessly to ensure that you deliver the report before we receive the Minimum Wage Bill from the National Assembly.
“Let me also thank the Minister of Budget and National Planning for coordinating the work of the Committee.’’
The president also commended the Budget Office of the Federation, the National Incomes, Salaries and Wages Commission, the Office of the Accountant General of the Federation, the Federal Inland Revenue Service, the National Bureau of Statistics and the Central Bank of Nigeria for providing strong support to the committee in the course of its assignment.
“May I also appreciate the support we received from private sectors, particularly, Access Bank Plc, Pricewater House Coopers, KPMG Advisory Services, Financial Derivatives Company and Economic Associates.
“I thank them all for their contributions to the successful conclusion of the committee’s work.
“We will review this report expeditiously. In the process, we may need to engage with some members of your Committee, I therefore implore you to make your services available whenever we may call on you,’’ he added.
The News Agency of Nigeria (NAN) reports that details of the committee’s recommendations were presented to the president behind closed doors.
NAN reports that already the two chambers of the National Assembly had deliberated and approved the bill on N30,000 as new national minimum wage.