The Federal Government has allocated ₦3 trillion to fund the new minimum wage in the supplementary budget.Tinubu Requests N6.2tn Budget Supplement, Bringing Total to N34.9tn Amidst Minimum Wage Talks This move is expected to benefit millions of Nigerian workers and improve their standard of living.
President Bola Tinubu has announced that the bill for the new minimum wage will soon be sent to the National Assembly for approval. The implementation of the new minimum wage is a crucial step towards reducing poverty and inequality, and improving the purchasing power of Nigerian workers.
In addition to the minimum wage allocation, the ₦6.2 trillion supplementary budget also covers other critical areas, including:
– ₦522 billion for water, irrigation, and dam projects
– ₦530 billion for rolling stock for rail projects
– Funding for road projects, such as the Lagos-Calabar and Sokoto-Badagry roads
– Funding for rail projects, including the Port Harcourt Main Bridge, Badagry-Tin Can Port, Lekki Port, Lagos-IIbadan Standard Gauge, and Kano-Marada Standard Gauge
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