President Bola Tinubu will consult further before making a final decision on the new national minimum wage for Nigerian workers, according to Mohammed Idris, Minister of Information and National Orientation. This announcement came at the end of the Federal Executive Council (FEC) meeting in Abuja on Tuesday.
The report from the tripartite committee on the new wage was presented at the FEC meeting, but was deferred to allow the President more time for consultation. Idris noted that this would enable President Tinubu to make an informed decision before sending the bill to the National Assembly.
“The new national minimum wage is a matter involving the federal government, state governments, local governments, and the organized private sector,” Idris said. “The memo was stepped down to allow Mr. President to consult further, particularly with state governors and the organized private sector.”
Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, also provided updates on government finances and debt. He noted that the total debt stock in dollar terms fell by 15% in the first quarter of this year, which he described as a positive development. However, he also highlighted that the exchange rates led to an 8 trillion Naira increase in actual debt issuance, resulting in a 25% rise in total external and domestic debt in Naira terms.
Edun emphasized the importance of revenue collection and expenditure controls, stating that the government is focused on using technology to ensure robust revenue efforts and implementing expenditure controls effectively.
Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate, announced the Council’s approval for upgrading key infrastructure in the healthcare system. This includes the engagement of a transaction adviser to develop a public-private partnership (PPP) to modernize and refurbish equipment at six teaching hospitals across the country.
The Council also approved the expansion of the pathology lab and mortuary at the University College Hospital, Ibadan, including the construction of hostels for nurses and other health professionals under a PPP arrangement.
Pate provided an update on ongoing health issues, including the cholera outbreak and the emergence of yellow fever in Bayelsa, assuring that the National Centre for Disease Control is working with Lagos State to contain the diseases.
Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Lateef Fagbemi, announced the approval for procuring Mikano CNG vehicles for the National Drug Law Enforcement Agency (NDLEA) and two full-body scanners for Lagos and Abuja International airports.
Minister of Works David Umahi gave an update on road projects, assuring that most ongoing road construction and rehabilitation would be completed by October.
