Minimum Wage: Who Will Fund New 30K? No One But You
So, the Senate on Tuesday approved the increase of the minimum wage of 30,000 naira. Happy days ahead? Guess again.
The government wants to raise your Value Added Tax, VAT in order to afford it.
At least, that was what the minister of Budget and National Planning, Senator Udo Udoma, told the Senate Committee on Finance on Tuesday.
Udoma also told the panel headed by Senator John Owan-Enoh that the Technical Advisory Committee on the minimum wage will submit its report to President Muhammadu Buhari this week.
He said: “The current minimum wage of 18,000 naira is really too low. It is difficult for workers to manage on that amount.
“The President supported a review, but it is important that as we are revising it, we should be able to fund it.
“It is in the light of this that we would be coming to you (Senate) because there may be the need to make some changes, especially the VAT, in order to fund the minimum wage once it is announced.”
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